GAIL approves issuance of bonus shares, interim dividend -Governance Now

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

#GAIL
#PSU

Other News

Building infrastructure is only half the job

Recent stories of stolen railway wires, disappearing communication towers and missing public infrastructure are often treated as bizarre law-and-order failures of India. Yet they raise a more fundamental question. Why does the State often discover the disappearance of a public asset only after it has alrea

New Delhi’s Indo-Pacific strategy enters a new phase

India appears to be investing fresh dynamism in its Indo-Pacific strategy. At the time when the US, under president Donald Trump, has adopted a conciliatory approach towards China and has changed the name of America’s Indo-Pacific Command to just Pacific Command, India has quietly moved towards con

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

The health sector research we are not doing

Some neglect is loud. This kind is quiet. It sits in research never commissioned, data never collected, questions never asked. In South Asia, that quiet has let the region’s worst health problems stay understudied, underfunded, and out of sight of those who could act.

Study flags accessibility and last-mile challenges on Mumbai Metro Aqua Line

Mumbai Metro Line 3 (Aqua Line), the city`s first fully underground metro corridor and one of its largest public transport investments, represents a major engineering achievement and has been widely welcomed by commuters. However, the overall commuter experience continues to be constrained by accessibili

Centre intensifies preparedness as El Niño threat looms

Amid uncertainty in the southwest monsoon due to the potential impact of El Niño, the government is addressing the situation with comprehensive preparedness, a clear strategy, and strong ground-level action. While challenges remain, the entire system has been activated in advance and is working proa