IL&FS to issue 1:2 bonus, raise $60mn

The board of directors of IL&FS today cleared a proposal to issue bonus shares in the ratio of 1:2 i.e one bonus share for every two shares held.

According to a release issued by IL&FS to the BSE today, the board also cleared proposals to raise $60 million from the international markets, and hiking FII holding limit to 74%.