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IEX shareholders approve bonus issuance, increase in approved equity capital

The Indian Energy Exchange (IEX) has received shareholder approval for the issuance of bonus shares and the increase in authorized capital.

The company said in a regulatory filing that it had approved the resolution included in the required majority notice through the remote electronic balloting mail voting process described in the November 25, 2021 mail ballot notice.

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On October 21, 2021, the company’s board of directors approved the issuance of bonus shares to acquire two bonus shares per share held by shareholders.

Bonus shares will be issued to eligible members of the company at a rate of two new Rupee fully paid shares for each existing Rupee fully paid share held by each. As of March 31, 2021. Of the company’s free reserve and capital redemption reserve, the amount does not exceed 59,91,13,022 rupees. “

The company has also received shareholder approval for increased authorized capital and the accompanying amendments to the capital provisions of the Articles of Association.

The company’s current approved share capital is Rs 40.25, split into shares of Rs 40,25,00,000 each.

The company is proposing to increase the authorized capital to 100 rupees and split the rupee shares into 1,00,00,00,000 shares one by one to cover the issuance of bonus shares.



IEX shareholders approve bonus issuance, increase in approved equity capital

Source link IEX shareholders approve bonus issuance, increase in approved equity capital

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