Kirloskar Brothers to issue 2:1 bonus

The board of directors of Kirloskar Brothers today approved a proposal to issue bonus shares in the ratio of 2:1 i.e two bonus shares for every share held. This was announced in a release issued by the company to the BSE today.

The board also approved a proposal to increase the authorised share capital of the company from Rs 20 crore to Rs 50 crore.

"The revised authorised share capital of the company will be Rs 50 crore divided into 25 crore equity shares of Rs 2 each," the release added.

The company will hold an EGM on September 2, 2005 to clear the proposals, the release added.