BigBloc Construction Announces 1:1 Bonus Share Issue and Dividend Declaration

BigBloc Construction has approved a 1:1 bonus share issue, granting one bonus share for each share held. The bonus issue and final dividend are pending approval at the AGM on August 29. Company shares rose 7% to Rs 284.90 on the BSE, but later settled at Rs 271.75.

BigBloc Construction announced that its board has approved a 1:1 bonus share issue. This means one bonus share will be issued for every equity share held by shareholders.

The board discussed the bonus share distribution on July 19, with the final move pending approval at the Annual General Meeting scheduled for August 29. The company noted that Rs 28.31 crore in free reserves will be utilized for this bonus issue to reward current shareholders and increase liquidity.

Following the announcement, BigBloc Construction's shares surged 7% to Rs 284.90 on the BSE, before settling higher by 2.08% at Rs 271.75. Additionally, the board has declared a final dividend of 40 paise per equity share, though Promoter Group shareholders are waiving their dividend rights.