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

How Covid-19 can be a boon to slash tobacco disease burden

 The two-month Covid-19 lockdown has been both a bane and a boon for India’s 27 crore tobacco users. With tobacco not included in the list of essential goods and many states explicitly banning chewing tobacco over concerns of spitting, the sharp drop in availability has forced them to undergo wi

Maharshtra braces to face Cyclone Nisarga

 Even as Mumbai fights challenges posed by COVID-19 on multiple fronts and as the  coronavirus cases continue to rise daily, the city now faces a double whammy with the cyclone ‘Nisarga’ slated to make the landfall in Maharashtra Wednesday. A state-wide alert has been issued for Mumba

Harnessing the demographic capital: how effective are skilling programmes?

Probing data concerning increased job creation and the decline in unemployment has been holding the attention of economists and been subject of discussions in several think tanks in the preceding months. The NITI Aayog reports that 3.53 million new jobs were created between September 2017 and February 2018

It`s time to Unlock now, with economic focus

With Lockdown 4 ending Sunday, the home ministry has issued new guidelines to fight COVID-19 and for phased re-opening of areas outside the Containment Zones. The guidelines, issued based on extensive consultations held with states and UTs, will be effective from June 1 till June 30. The first phase of reo

Small kitchen gardens turn saviours for Gujarat tribal families

When the whole world is fighting COVID-19, food and nutrition security has become a major issue. The pandemic has aggravated the existing food crisis in India, especially in rural and tribal regions. There has been less availability of fresh foods in most parts of the country, and the tribal community has

India will set example of post-Covid-19 economic revival: Modi

India is determined to “set an example” for the rest of the word in the post-pandemic economic revival, prime minister Narendra Modi has said, underling the need to become self-reliant. “There is also a widespread debate on how the economies of various countries, including



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter