GAIL approves issuance of bonus shares, interim dividend

The paid-up share capital of the company will increase from Rs 1,268.48 crore to Rs 1,691.30 crore

GN Bureau | February 2, 2017


#GAIL   #PSU  
The gas authority of India limited (GAIL) — a Maharatna PSU has recommended issuance of one bonus share for every three equity shares held of Rs 10 each fully paid up, subject to shareholders approval.
 
The decision was taken by GAIL’s board of directors in its meeting held on January 25, a press release said. It further stated that the paid-up share capital of the company will increase from Rs 1,268.48 crore to Rs 1,691.30 crore.
 
Earlier, GAIL had issued bonus shares of one fully paid-up bonus share for every two equity shares in October 2008.
GAIL’s board also approved payment of interim dividend for 2016-17 fiscal at the rate of 85 percent of paid-up equity share capital of the company (Rs 8.5 per share).
 
The board also approved raising of funds through secured/unsecured, redeemable, non-convertible, taxable INR bonds up to Rs 750 crore with green shoe option up to 100 percent of issue size aggregating up to Rs 1,500 crore on private placement basis, in one or more tranches.
 
GAIL chairman and managing director BC Tripathi said GAIL is issuing bonus shares for the second time after its listing on the stock exchanges. “The decision has been taken in order to enhance shareholders’ value and acknowledge their support to the company over the years,” he said.
 

Comments

 

Other News

Improving livelihood with financial access is the task ahead

“Demonetisation has created an entire system of digitisation and financial inclusion,” said PK Gupta, managing director (Retail and Digital Banking), State Bank of India, at the launch of the Governance Now India Financial Inclusion Case Book in Mumbai on Friday. He further stated though there

How Bhutan is enuring food security

When Bhupen Gurung from the Royal University of Bhutan told the audience at the TERI School of Advanced Studies, New Delhi, about dropping levels of poverty in Bhutan, many public policy academicians were left intrigued. Coming from the ‘Land of Happiness’ (Bhutan ranked 97 among 155 countr

Uncivil servants

An IPS officer of Tamil Nadu cadre holding the post of assistant superintendent of police was caught cheating, using high-tech gadgets, while appearing in the IAS examination in October, as was widely reported in the media. The case has shaken the conscience of the enlightened citizenry and shows the rot t

Manufacturing will remain dark horse for economy: Niti Aayog expert

Manufacturing will remain the dark horse for the Indian economy, especially as labour-intensive industries shift from China, writes Sukhgeet Kaur, director, project appraisal and management division, Niti Aayog in an official

The un-importance of being Pravin Togadia

Vishwa Hindu Parishad (VHP) working president Pravin Togadia is in the news after a long time. This week, Togadia went `missing` for an entire day as the Gujarat and Rajasthan police were on the lookout for him, arrest warrant in hand. Togadia was later brought to a hospital in an unconscious state. At a p

Confused signals

Of late, there have been some anxious moments for broadcasters and no one knows where it’s been coming from, and why it’s happening. For starters, the ministry of information and broadcasting is the licensor for TV channels, in two categories: (i) news and current affairs (&lsquo

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter