Board of Indian Metals & Ferro Alloys approves bonus issue in ratio of 1:1
At meeting held on 26 November 2021The 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.
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First Published: Fri, November 26 2021. 11:17 IST