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NMDC Bonus allotment (5) 30-Jun-08 17:13

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Posted by: sethuk on ( 30-Jun-08 17:13 )
Price : BSE: Rs 274.45 ( -4.99 % ), NSE: Rs. 272.65 ( -5.00 % )
According to BSE/NSE, the NMDC Board had approved; 1. Splitting of the Company''s equity shares of face value of Rs 10/- each into ten shares of the face value of Re 1/- each. 2. Issue of bonus shares @ two equity shares for every one equity share held. As per my understanding, every share of NMDC would be split into 10 shares of Rs.1/-FV and then 2 additional bonus shares (of Rs.1/- FV) was to be given. i.e., 1 Share before split = 10 shares (Rs.1/- FV) + 20 bonus shares of Rs.1/-FV = Total 30 shares of Rs.1/- against each existing share. Is this right? Till now they have alloted only the bonus shares (2 for each share), even though the stock has been split into 10 shares of FV of Rs.1/- Kindly clarify the position.

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