NBCC Announces 1:2 Bonus Share Issue

NBCC (India) Ltd's board has approved the issuance of bonus shares in a 1:2 ratio using Rs 90 crore in free reserves. The record date is set for October 7, 2024, pending shareholder approval at the upcoming Annual General Meeting.

State-owned NBCC (India) Ltd has given the green light for issuing bonus shares to its shareholders in a 1:2 ratio, meaning one new equity share for every two existing ones. This move will use Rs 90 crore from the company's free reserves.

In a regulatory filing, NBCC confirmed that its board has approved the issuance of these bonus shares and set October 7, 2024, as the record date to identify eligible shareholders.

The issuance of the proposed 90 crore shares is contingent upon approval at the forthcoming Annual General Meeting. NBCC operates mainly in project management consultancy and real estate.

(With inputs from agencies.)