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Dr Reddy’s to issue bonus debentures

Dr Reddy’s to issue bonus debentures
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First Published: Wed, Mar 31 2010. 10 38 PM IST
Updated: Wed, Mar 31 2010. 10 38 PM IST
Hyderabad: Drug maker Dr Reddy’s Laboratories Ltd on Wednesday said it would issue bonus debentures worth Rs520 crore from its reserves, subject to shareholder and regulatory approval.
The company’s board has approved restructuring the firm’s general reserves and issuing six unsecured, non-convertible and fully paid-up bonus debentures for every equity share of Rs5 each held by shareholders.
As on 26 February, the company has 168.8 million paid-up equity shares of Rs5 each, with promoters holding a 25.77% stake. As at the end of fiscal 2008-09, the company’s reserves and surplus stood at Rs5,174.9 crore.
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First Published: Wed, Mar 31 2010. 10 38 PM IST