Indraprastha Gas Ltd Unveils Its Maiden Bonus Share Issue

Indraprastha Gas Ltd announced its first-ever 1:1 bonus share issue to reward shareholders and attract retail investors. The company's share capital will double from Rs 140 crore to Rs 280 crore, utilizing free reserves. The bonus aligns with the firm’s strategy to enhance shareholder value and confidence.

In a strategic move, Indraprastha Gas Ltd (IGL) announced on Tuesday its inaugural bonus share issue, granting one free share for each share held. This initiative aims to bolster retail investor interest while rewarding existing shareholders.

The board approved the 1:1 bonus issue, with the company's share capital set to increase from Rs 140 crore to Rs 280 crore. The necessary funds will be drawn from the firm's Rs 8,411.74 crore free reserves.

This development aligns with IGL's commitment to maintaining industry leadership and delivering consistent growth in India's clean energy sector, showcasing its robust financial footing and strategic focus on long-term shareholder value creation.

(With inputs from agencies.)