NBCC Announces 1:2 Bonus Share Issue, Utilizes Rs 90 Crore Free Reserve
NBCC India Ltd has announced a bonus share issue in the ratio of 1:2 to eligible shareholders, utilizing Rs 90 crore from its free reserves. The company has a robust order book of over Rs 81,300 crore and is strategically focused on redevelopment, PSU lan
Nbcc India LtdBonus SharesReal Estate DevelopmentPsu Land MonetizationProject Management ConsultancyReal EstateSep 01, 2024
The board has recommended the issuance of bonus shares to the shareholders of the company in the ratio of 1 2, i.e., one new fully paid-up equity share of Rs 1 each for every two existing shares to the eligible members as on the record date.
The company proposes to issue 90 crore shares as bonus shares. Free reserves of Rs 90 crore would be utilized for the issue of bonus shares, subject to the approval of the shareholders in the forthcoming Annual General Meeting.
The board has fixed October 7, 2024, as the record date to determine the eligibility of members to receive bonus shares. NBCC has a balance of Rs 1,959 crore as reserves and surplus for capitalization.
According to K P Mahadevaswamy, CMD of NBCC, the decision to recommend a bonus issue is a testament to the robust performance and sound financial position of NBCC India Limited. The company has achieved the highest ever turnover, business development, and profit for the financial year 2023-2024.
This initiative aims to enhance shareholder value and demonstrates our dedication towards investors. We believe that this initiative will further strengthen the confidence of our shareholders and reflect our ongoing commitment to creating value, said Mahadevaswamy.
The last bonus that NBCC (India) had announced was in 2017 in the ratio of 1 2. NBCC, with its robust order book of over Rs 81,300 crore and a strategic focus on redevelopment, PSU land monetization, real estate development, overseas expansion, and PMC works, is well-positioned to contribute towards a Viksit Bharat.
NBCC is mainly into project management consultancy (PMC) and real estate business.
About NBCC India Ltd
NBCC India Ltd is a state-owned company that provides project management consultancy (PMC) and real estate development services. The company has a strong presence in the Indian construction industry and has executed several high-profile projects in the country.
Frequently Asked Questions
What is the ratio of bonus shares announced by NBCC India Ltd?
The ratio of bonus shares announced by NBCC India Ltd is 1:2.
What is the purpose of the bonus share issue?
The purpose of the bonus share issue is to enhance shareholder value and demonstrate the company's dedication towards investors.
What is the record date for determining the eligibility of members to receive bonus shares?
The record date for determining the eligibility of members to receive bonus shares is October 7, 2024.
What is the amount of free reserves that will be utilized for the issue of bonus shares?
The amount of free reserves that will be utilized for the issue of bonus shares is Rs 90 crore.
What is the business focus of NBCC India Ltd?
NBCC India Ltd is mainly into project management consultancy (PMC) and real estate business.
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