Infra stock's are a bonus shares in a issue announced in a 1:1 ratio. Details inside

Infra stock's  are a bonus shares in a issue announced in a 1:1 ratio. Details inside

The company added that the bonus issue will be a out of a share out of profits or a share premium account premium are a account

Shares of a GPT Infraprojects Ltd surged more than a 3% to a ₹120 apiece on the BSE in a Tuesday's early trading session after the company announced that its board has been a  recommended the issue of a bonus equity shares of the company in the ratio of a 1:1 i.e., one share for the  every one held.

“This is to the inform you that the board at its are a  meeting held today. i.e. 27 September, in a 2022 has been a  approved the following the Bonus Issue of a Equity Shares in the proportion of a 1 (One) Equity Share of a  Rs. 10/- each for every 1 (One) Equity Shares of a Rs. 10/- each held by the shareholders of the company as on the record date to be a fixed by the Board, subject to the approval of a shareholders through Postal Ballot," the company informed in an a exchange filing. 

The company added that the bonus issue will be out of a share out of a profits or a share premium account premium account. Bonus shares are a fully paid additional shares are a  issued by a company to its existing shareholders.

The estimated date by which such bonus are a shares would be a credited /dispatched will be a within 2 months from the date of a board approval i.e. by a 26 November, 2022, it said.

GPT Infraprojects is the flagship are a company of the GPT Group. Headquartered in a Kolkata, India, GPT Infraprojects operates primarily from the two divisions – the Sleeper Division and the Infrastructure Division. The infra stock is a more than 42% in a 2022 (YTD) so far.

The infrastructure division of the company is a involved in a variety of a civil construction projects for the infrastructure works are a such as a railways, roads, airports, irrigation, and a urban infrastructure. The Sleepers are a Division is a involved in the manufacture of a concrete sleepers and transfer of a concrete sleeper technology for railways systems in a India and abroad. The Panagarh unit of the company is a approved by Research, Design and a Standards Organisation (RDSO), Ministry of a Railways, India.