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Kolkata-based Emami Ltd plans to increase its authorised share capital to Rs 25 crore from the present Rs 20 crore. In a notice for a postal ballot, the company said the results would be declared on June 17. The ballot closes on June 14.
The proposal to increase the authorised share capital comes in view of the company’s plans to issue bonus shares. It has sought shareholders’ approval for increasing the authorised share capital and the bonus issue.
The company plans to issue bonus shares in ratio of 1:2 (one equity share for every two existing equity share held).
“In view of the proposed issue of bonus equity shares, it is proposed to increase the authorised share capital from Rs 20 crore divided into 20 crore shares of Re 1 each to Rs 25 crore divided into 25 crore shares of Re 1 each,” the notice said.
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