Mindtree firms up on shareholders nod for 1:1 bonus issue

Shareholders via a postal ballot approved bonus share issue in the ratio of 1:1

Shares of Mindtree were up nearly 3% at Rs 1,461 on the Bombay Stock Exchange after the company announced the results of the postal ballor for the resolutions which were approved by shareholders with requisite majority.

The resolutions include issuance of bonus shares in the ratio 1:1, appointment of Rostow Ravanan as CEO & Managing Director and appointment of Krishnakumar Natarajan as Executive Chairman, the company said in a release.

The record date to determine the shareholders who are eligible to receive the bonus shares has been fixed as March 10, 2016. For shareholders holding shares in physical form, share certificates will be sent to them in due course, within the statutory timelines, the release added.

The stock opened at Rs 1,435 and touched a intra-day high of Rs 1,465. At 12:20pm, over 238,000 shares were traded on both the stock exchanges so far.