The Board of Directors of LG Balakrishnan & Bros on Thursday approved the issue of bonus shares in the ratio of one equity share for every one equity shares held through capitalisation of reserves. The board also approved an increase in authorised share capital and consequent alteration of the Memorandum and Articles of Association and hike in the borrowing powers of the company in excess of its paid-up capital and free reserves. The board has commended the proposals to its shareholders for approval through postal ballot. Shares of LG Balakrishnan & Bros jumped 18.4 per cent on the BSE at ₹556.80.
LG Balakrishnan & Bros
Published on
May 15, 2014 17:25