Nov,2011 : Tata Sons, the
holding company of the $83-billion Tata Group, has proposed a bonusissue
after 12 years on the back of a robust year when it doubled its profits.
The company is on
course to allot five shares for every share held by
its shareholders (5:1), expanding its equity base six times. In the
last 14 years, this is the third time Tata Sons is rewarding its
shareholders through a bonus issue. The previous two, each in the ratio of 1:2,
were in 1999 and 1997.
The bonus issue
decision by the unlisted Tata Sons board comes at a time when the firm is set
to see a change at the helm, with its current chairman Ratan Tata stepping down
in December 2012. In addition to the bonus issue, the company is also paying a
dividend of Rs 8,000 per share of face value Rs 1,000.
Sandip Ginodia
ABHISHEK SECURITIES
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