V-Guard cheers shareholders with 2:5 bonus issue
Shital Jibhe / 30 Jan 2017
The shareholders of V-Guard Industries have something to cheer about. The good news is that the company's board of directors at its meeting held on January 30, 2017 has recommended issue of bonus shares in the ratio of 2:5 (two shares for every five shares held) by way of capitalisation of reserves.
The shareholders of V-Guard Industries have something to cheer about. The good news is that the company's board of directors at its meeting held on January 30, 2017 has recommended issue of bonus shares in the ratio of 2:5 (two shares for every five shares held) by way of capitalisation of reserves.
The reserves and surplus of the company stood at Rs 440.69 crore as on March 31, 2016, out of which Rs 12.09 crore would be capitalised by issue of bonus shares.
The board also approved an increase in the authorised share capital of the company from Rs 40 crore, divided into 40 crore equity shares of Rs 1 each, to Rs 50 crore, divided into 50 crore equity shares of Rs 1 each.