Mumbai: State-run refiner Indian Oil Corporation on Tuesday said its shareholders have approved a bonus issue of one share for every share held.
In a filing to the Bombay Stock Exchange IOC said the shareholders, by way of postal ballot, has approved the issuance of bonus shares in the ratio of 1:1.
The board of the company, last month, approved the bonus issue of equity share of Rs 10 each, for every share of Rs10 each held.
Post bonus issue the paid-up equity capital of the company would stand revised to Rs2,427.95 crore, from the present level of Rs1,213.98 crore.
Shares of IOC were trading at Rs636.55, down 0.46% in the afternoon trade on BSE.