IEX seeks shareholders nod to issue bonus shares via postal ballot notice

IEX

Indian Energy Exchange (IEX) will seek shareholders' approval to issue bonus shares through postal ballot notice.

The company has issued postal ballot notice to seek approval of shareholders on a proposal to issue bonus shares to members, a BSE filing said.

The board had approved and recommended on October 21, 2021, to issue of bonus equity shares of rupee one each credited as fully paid-up to eligible members of the company in the proportion of two new fully paid-up equity share of rupee one each for every one existing fully paid-up equity shares of rupee one each held by them, by capitalising a sum not exceeding Rs 59,91,13,022 out of the company's free reserves and capital redemption reserve as on March 31, 2021.

The results of the postal ballot/e-voting will be announced not later than two working days of the closure of the e-voting i.e., on or before Monday, November 29, 2021, at the corporate office and will be displayed at the corporate office and intimated/communicated to BSE Ltd and National Stock Exchange of India Ltd, where the equity shares of the company are listed.

The company will also seek members approval to increase in authorised share capital and consequent alteration in the capital clause of the memorandum of association.

The current authorised share capital is Rs 40,25,00,000 divided into 40,25,00,000 equity shares of rupee one each.

The company proposes to increase its authorised share capital to Rs 1,00,00,00,000 divided into 1,00,00,00,000 equity shares of rupee one each to cover the issuance of bonus shares.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel