ONGC board approves stock-split, bonus issue

ONGC board approves stock-split, bonus issue

Mumbai: State-run Oil & Natural Gas Corporation (ONGC) on Friday said that the company’s board has approved the stock split and issuance of bonus shares in the ratio of 1:1.

“The members of the company through postal ballot have approved the sub-division of the equity share of Rs10 each into two equity shares of Rs5 each, and issuance of bonus shares in the ratio of 1:1, by capitalisation of reserves," ONGC said in a filing to the Bombay Stock Exchange (BSE).

The company has fixed 9 February, 2011 as the record date for ascertaining the eligibility of the shareholders, who would be entitled to receive sub-divided shares and bonus shares, it said in a separate filing to the BSE.

Shares of ONGC were quoting at Rs1,126.30 a piece, up 1.06% from previous close in the last hour of trade on BSE.

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