Nava Bharat Ventures Ltd, a firm engaged in power, mining and ferro alloys business, today said that its board has approved issuance of bonus shares in the ratio of 1:1.
"The board of directors of the company, at its meeting held on July 22, has approved the issuance of bonus shares in the ratio of 1:1 i.E. One bonus equity share of Rs 2 each for every one existing equity share of Rs 2 each, by capitalising a part of the general reserves," Nava Bharat Ventures Ltd said in a filing to BSE.
However, the issuance of bonus shares is subject to the approval of shareholders at the annual general meeting to be held on August 24.
Nava Bharat Ventures is a diversified organisation with interests in power generation, ferro alloys, mining and agri-business.
