The Hindu Business Line : ONGC allots 1:2 bonus

ONGC has allotted bonus shares in the ratio 1:2 to its shareholders. In a statement issued here, the company said: "with the issuance of 71,29,57,510 shares as bonus shares, the number of shares has gone up to 213.89 crore. The paid-up equity share capital of the company (face value Rs 10) has, accordingly, gone up to Rs 2,138.87 crore." Pursuant to the recommendations of its board and approval of the shareholders at the annual general meeting on September 19, ONGC allotted the bonus shares to those whose names appear on the Register of Members and Beneficial Owners' list maintained by depositories on the record date, October 30. While the demat accounts have been credited with bonus shares, share certificates — for physical holdings — have been despatched on November 15. Allotment advices are under despatch. The National Stock Exchange and the Bombay Stock Exchange have granted trading permission to deal in bonus shares from November 17, the company said. For fractional bonus shares, ONGC has appointed a Trustee for distribution of net sale proceeds among entitled shareholders.

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