Southern Ispat members clear 1:8 bonus

The members of Southern Ispat at its extra ordinary meeting held on March 25 have approved a proposal to issue and allot bonus shares not exceeding 6.52 lakh equity shares of Rs 10 each, aggregating Rs 65.23 lakh, from its reserves and surplus, as bonus shares to its existing shareholders.

According to a release issued by Southern Ispat to the BSE, the bonus share issue will be in the ratio of one equity shares for every eight shares held as on record date.