You are here: Home » News-CM » Companies » News
Business Standard

Board of Indian Metals & Ferro Alloys approves bonus issue in ratio of 1:1

Capital Market 

At meeting held on 26 November 2021

The Board of Indian Metals & Ferro Alloys at its meeting held on 26 November 2021 has approved the issue of bonus equity shares in ratio of 1:1. The Board also approved increase in authorized share capital from Rs 38,75,00,000 dividend into 3,52,50,000 equity shares of Rs 10 each, 40,000 9.5% Redeemable Cumulative Preference Shares of Rs. 100 each, 2,60,000 IInd series Redeemable Cumulative Preference Shares of Rs. 100 each and 50,000 Redeemable Cumulative Preference Shares of Rs. 100 each to Rs.-63,50,00,000 divided into 6,00,00,000 Equity Shares of Rs.10 each, 40,000 9.5% Redeemable Cumulative Preference Shares of Rs. 100 each, 2,60,000 IInd series Redeemable Cumulative Preference Shares of Rs. 100 each and 50,000 Redeemable Cumulative Preference Shares of Rs. 100 each by creation of additional 2,47,50,000 equity shares of Rs 10 each and consequent amendment of t he Memorandum of Association and Articles of Association of the Company subject to approval of shareholders and any other applicable statutory and regulatory approvals.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 26 2021. 11:17 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU