The board of directors of Bhandari Hosiery Exports Ltd has approved and recommended the issue of 2,609,495 fully-paid bonus shares of Rs 10 each to holders of existing 7,455,700 fully-paid equity shares, in the ratio of seven shares for every 20 held.
The bonus issue is subject to the approval of members at the Extra Ordinary General Meeting, the company said in a filing with the Bombay Stock Exchange.
The company has fixed February 11 as the date for the EGM.
Shares of Bhandari Hosiery closed 0.11 per cent down, at Rs 43.85, on the Bombay Stock Exchange on Friday.
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