Venkys (India) said Monday the board of directors has considered and recommended a bonus issue of equity shares in the ratio of one equity share for every two equity shares held, as on the record date to be determined by the board.
The bonus issue of equity shares will be subject to approval by the shareholders, through postal ballot and the record date will be announced separately, the company said.
The bonus issue will be made by way of capitalization of such sum standing to the credit of capital redemption reserve, securities premium account and general reserves of the company, as may be considered necessary by the board, it said.
Shares of the company gained Rs 46.6, or 10.91%, to trade at Rs 473.70. The total volume of shares traded was 37,586 at the BSE (10.18 a.m., Monday).