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Emami Ltd today informed the stock exchanges that majority of its shareholders have approved the proposal relating to issue of bonus shares.
The company said that approval from shareholders for the bonus issue will increase its paid-up capital to Rs 22.7 crore from R 15.13 crore. Promoters (72.74 per cent) and FIIs (14.46 per cent) would be the biggest beneficiaries of the issue.
The company has last issued bonus shares in 2004.
The Re 1 stock, however, reacted negatively to the news. At 1.30 p.m., it was down over a per cent at Rs 720.10 on the BSE.
jayanta.mallick@thehindu.co.in
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