Nagarjuna allots 10 cr bonus shares in 1:1 ratio

MUMBAI: Nagarjuna Construction Company Ltd has allotted around 10 crore bonus equity shares to shareholders in the ratio of 1:1.

The company informed the Bombay Stock Exchange that at a meeting held recently, the Executive Committee of the Board had allotted 10,33,68,530 bonus shares of Rs 2 each aggregating to about Rs 20 crore.

Bonus shares were allotted in the ratio of 1:1, where one bonus share was allotted for every one equity share held, Nagarjuna Construction said.

The Hyderabad-based company added it had earlier received shareholders' approval for the bonus issue at the AGM held in August.