1:3 Bonus Issue Approved: Real Estate Company Increases Authorised Share Capital To Rs 400 Crore

On Monday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 1.04 per cent to 23,123.00. Amid the broader market weakness, Brigade Enterprises share price ended at Rs 643.15, down 1.27 per cent from the previous close. The stock remained in focus after shareholders approved the company's proposed Bonus issue and increase in authorised share capital through a postal ballot process.

Shareholders Approve Bonus Issue

Brigade Enterprises informed the stock exchanges that shareholders have approved the issuance of bonus equity shares through a postal ballot conducted via remote e-voting. The results were declared on June 8, 2026.

The company received shareholder approval for the issuance of bonus shares in the ratio of 1 equity share for every 3 existing equity shares held. The bonus issue will be implemented through capitalisation of reserves and/or securities premium account, subject to applicable regulatory requirements.

Authorised Share Capital Increased To Rs 400 Crore

Shareholders also approved an increase in the company's authorised share capital from Rs 250 crore to Rs 400 crore.

Following the approval, the authorised share capital of the company will comprise 40 crore equity shares of face value Rs 10 each, compared with the earlier authorised capital of 25 crore equity shares.

Brigade Enterprises Voting Results

The resolution for increasing authorised share capital received strong shareholder support, with 98.77 per cent of votes cast in favour and 1.23 per cent against.

The bonus issue proposal also secured overwhelming approval, with 98.82 per cent of votes cast supporting the resolution, while 1.18 per cent voted against it.

The remote e-voting process commenced on May 9, 2026, and concluded on June 7, 2026. The results were subsequently declared on June 8, 2026.

Brigade Enterprises Additional Details

The company stated that bonus shares will rank pari passu with existing equity shares in all respects. The allotment will be made in dematerialised form in accordance with applicable SEBI regulations.

The Board has also been authorised to take necessary steps for listing the bonus shares on stock exchanges and complete all regulatory formalities related to the issuance.

About Brigade Enterprises

Brigade Enterprises Ltd is one of India's Real Estate developers with operations across residential, commercial, retail, hospitality and mixed-use developments. The company has a presence in major cities across South India and develops integrated real estate projects across multiple segments.

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Disclaimer: The article is for informational purposes only and not investment advice.