Madras Cements to issue bonus shares, India

Madras Cements to issue bonus shares, India
Published: 02 September 2008

Cement manufacturer Madras Cements tosay said it will issue bonus shares to the existing shareholders in the ratio of 1:1 and has decided to opt for stock-split.

The shareholders of the company took a decision to this effect at its annual general meeting held on August 11, the Tamil Nadu-based firm today said in a filing to the Bombay Stock Exchange.

The shareholders resolved to issue one fully paid bonus equity share for each share held by the existing members as on a date to be determined by the board of directors, it said.

The AGM also decided to subdivide the company’s Rs 10 each share into 10 shares of Re 1 each, it said.

The AGM also increased borrowing limit of the company to Rs 3,000 crore, it said.


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