Inox Wind Limited (IWL)’s Board of Directors has proposed the issuance of bonus shares of 3:1 (three bonus equity shares for every one existing equity share) out of the accumulated reserves of the company.
The bonus shares shall be issued to the shareholders whose name appears in the register of members as on the ‘record date’. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind’s shares, broadening participation of a wider set of investors.