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Reliance Power Bonus – To issue Bonus Shares
- Filed under: Bonus, Reliance, Reliance Power IPO
- Date: Feb 17,2008
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It was like almost 4.30 in the evening was returning from a temple in chidambaram and was so tired with the traffic and everything , my friend called me suddenly i thought it was something official and he was like is reliance power going to issue bonus shares , I was like are you crazy he said he got an SMs and i said it should be som prank to raise the share price of Reliance power , then came home and checked the moneycontrol website and was nothing found there and finally did a search for it in google and wollah there it is yes , there is something happening with ADAG geroup either they are crazy or they are planning something really good or bad for them .
Reliance Power Ltd plans to issue bonus shares to all equity holders other than the founders, hoping to cheer retail investors after the firm’s shares tumbled following a record $3 billion IPO.Its board is scheduled to meet on Feb. 24 to consider issuing bonus shares and/or other measures which it said would effectively reduce the cost of the company’s shares.
“This will include a proposal for issuing free bonus shares to all categories of shareholders excluding the promoter group, thereby protecting investors from even short-term losses on their shareholdings,” it said.
Source : Reuter
