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GAIL India approves
bonus share of 1:2
New Delhi, September 04, 2008
In a bonanza to shareholders, GAIL India on Thursday
approved a bonus share in the ratio of one additional share
for two shares held.
The shares issued will be in the ratio of 1:2 and which
will double the authorised share capital to Rs 2,000 crore,
GAIL Chairman and Managing Director U D Choubey said.
He said the company proposes to raise Pata Petrochemicals'
annual capacity to 500,000 tons in the next one year from the
existing 400,000 tons.
It will further raise the annual capacity to 800,000 tons
in future, Choubey said. "The increased production of polymers
at Pata shall further add value," he told shareholders.
The company's share surged to Rs 416 in morning trade, up
from yesterday's close of Rs 405.55.
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