NBCC India to Issue Bonus Shares: A Testament to Financial Strength

State-owned NBCC (India) Ltd announced its board's approval to issue bonus shares in a 1:2 ratio to eligible shareholders, utilizing Rs 90 crore in free reserves. The decision reflects NBCC's strong financial performance and aims to enhance shareholder value.

On Saturday, state-owned NBCC (India) Ltd revealed that its board has sanctioned the issuance of bonus shares at a ratio of 1:2 to eligible shareholders. The initiative will utilize Rs 90 crore from the company's free reserves.

In an official regulatory filing, NBCC confirmed that the board has not only approved the issuance of bonus shares but also the fixation of the record date.

Company CMD K P Mahadevaswamy expressed that the decision underscores NBCC's robust financial health and performance, aimed at bolstering shareholder value. The record date has been set for October 7, 2024.

(With inputs from agencies.)