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Man lnfraconstruction ends higher on allotment of over 12cr bonus shares

8517 bonus shares representing fractional entitlement(s) of eligible Members have been consolidated and allotted to the ‘MICL Bonus Issue 2021- Fractional Shares Account’.

November 23, 2021 3:40 IST | India Infoline News Service
Man lnfraconstruction Limited has allotted 12,37,50,135 fully paid-up Bonus Equity Shares of Rs2/- each in the ratio of 1 new fully paid-up Bonus Equity Share of Rs2/- each for every 2 existing fully paid-up Equity Shares of Rs2 each held by the eligible members.

Man Infraconstruction Ltd istock trade on Tuesday ended at Rs95 per piece up by Rs2.15 or 2.32% from its previous closing of Rs92.85 per piece on the BSE.
“The Bonus Equity Shares allotted as above shall rank pari-passu with the existing Equity Shares of the Company and shall be entitled to such dividends and corporate benefits, if any, declared by the Company after the said allotment,” the company said in a filing on Monday.

As part of the aforesaid allotment, 8517 Bonus Equity Shares representing fractional entitlement(s) of eligible Members have been consolidated and allotted to the “MICL Bonus Issue 2021- Fractional Shares Account” created for this purpose.

Such equity shares will be sold at the prevailing market rate as soon as possible and the net sale proceeds will be distributed (after adjusting the cost and expenses in respect thereof), among the eligible Members in proportion to their respective fractional entitlements.

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