HCL Tech to issue 1:1 bonus

The board of directors of HCL Technologies today announced a bonus issue in the ratio of 1:1 i.e one bonus share for every share held.

According to a release issued by the company to the BSE today, the paid-up share capital is Rs 64.69 crore (comprising 3,23,442,350 equity share of Rs 2 each) and the company has reserves & surplus of Rs 2,511.18 crore as on June 30, 2006.

Shiv Nadar, chairman & CEO of the company, said: "HCL believes in investor-friendly policies. For the last 15 quarters, we have been following a high dividend policy. The current bonus issue is a reaffirmation of the policy of rewarding our shareholders, and this is expected to enhance liquidity of the stock and broaden our investor base."