A 1:1 bonus issue has been announced by Indraprastha Gas Limited, a company that provides natural gas to homes and businesses. The record date for this issue is January 31, 2025. This action demonstrates the company's dedication to increasing shareholder value and shows its faith in future expansion.
A bonus issue: what is it?
Giving extra shares to current owners for free is known as a bonus share offering. The number of shares that the shareholder currently owns determines how many shares are awarded.
Approval of Bonus Shares
The corporation previously sent out letters approving the issuance of bonus shares in a 1:1 ratio. This implies that for each share that stockholders now own, they will receive an additional share.
As IGL is the first of its peers to offer incentive shares, this marks the company's first bonus issue. Such a project has never before been announced by Gujarat Gas or Mahanagar Gas.
"The bonus share issue demonstrates our continued focus on creating long-term value for shareholders," stated Kamal Kishore Chatiwal, Managing Director of IGL. It honors our investors for their ongoing confidence and support and demonstrates our faith in the company's ability to expand.
Date and Allocation of the Record
To determine who is qualified for the bonus shares, the Record Date is Friday, January 31, 2025. It is scheduled to be distributed on Monday, February 3, 2025.
About IGL
A corporation called Indraprastha Gas Limited (IGL) provides natural gas to residences, workplaces, and automobiles in Delhi and the surrounding areas. Established in 1998, it advocates for more environmentally friendly and clean fuel options. Hotels, restaurants, shopping centers, hospitals, and other establishments are served by IGL, which guarantees a secure, dependable, and economical gas supply. A 5% share is owned by the Delhi government, GAIL, and BPCL in this joint venture.
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