NBCC Board Recommends Bonus Share in 1:2 Ratio

The Board of Directors of NBCC (India) Limited in its meeting held on 31.08.2024 has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:2 i.e. 1 (One) new fully paid-up Equity Share of ₹ 1/- (Rupees One Only) each for every 2 (Two) existing fully paid-up Equity Share of ₹ 1/- (Rupees One Only) each to the eligible Shareholders of the Company as on Record Date, subject to the approval of the Shareholders in the forthcoming Annual General Meeting. This decision reflects the Company’s strong financial health and its commitment to rewarding its shareholders. The Board has also fixed Monday, October 07, 2024 as Record date to determine the eligibility of members to receive bonus shares.

The eligible shareholders, whose names appeared in the Register of Shareholders or the List of Beneficial Owners maintained by the Depositories as of August 31, 2024, will receive these bonus shares. Consequently, the paid-up equity share capital of the company will increase from Rs. 180,00,00,000 to Rs. 270,00,00,000. The newly allotted bonus shares will hold equal status with the existing shares. They will be directly credited to the shareholders' demat accounts.

The Company has a balance of Rs. 1,959 Crore being reserves & surplus available for capitalization as per Audited Financial Statements on March 31, 2024.

On this occasion, Shri K.P. Mahadevaswamy, CMD, NBCC said, "The decision to recommend a bonus issue is a testament to the robust performance and sound financial position of NBCC India Limited. The Company has also achieved highest ever turnover, business development and profit for the Financial Year 2023-2024. This initiative aims to enhance shareholder value and demonstrates our dedication to our investors. We believe that this initiative will further strengthen the confidence of our shareholders and reflect our ongoing commitment to creating value."

The last bonus that NBCC (India) had announced was in 2017 in the ratio of 1:2.

NBCC with its robust order book of over Rs. 81,300 Crore and a strategic focus on redevelopment, PSU Land Monetization, Real Estate development, Overseas Expansion and PMC works, is well positioned to contribute towards a “Vikshit Bharat”.