The proposed bonus issue aims to reward shareholders by allocating additional shares based on a ratio yet to be determined. The board is also expected to finalize the record date for the bonus issue during the December meeting.
“This is to inform that a meeting of the Board of Directors is scheduled to be held on December 10, 2024, inter-alia to consider the proposal for issue of Bonus Shares to the equity shareholders of the Company in the ratio, as may be fixed, subject to the Shareholders’ approval,” the company’s exchange filing said.
Indraprastha Gas, established in 1998, is a joint venture between GAIL, Bharat Petroleum, and the Delhi government. It is a key player in supplying compressed natural gas (CNG) and piped natural gas (PNG) to customers across Delhi NCR.
The trading window for dealing in the shares of the company will remain closed with effect from December 4, till the expiry of 48 hours from declaration of outcome of the aforesaid board meeting, the company said in its exchange filing.
Also read | Star Cement shares surge over 9% on reports of potential acquisition by Adani-led Ambuja Cement(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)