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The board of Meera Industries on Monday approved the issue of bonus equity shares in the proportion of 7:5 ( seven bonus shares for every five held in the company), as on the record date, it said in a notice to the exchanges. The decision is subject to approval from the members of the company. The bonus shares will be issued out of free reserves and/or the securities premium account and/or the capital redemption reserve account of the company available as at March 31, 2019, it added. The post-bonus paid-up equity share capital is expected to be around ₹10.68 crore. Shares of Meera Industries jumped 11.63 per cent at ₹144 on the BSE.
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