The Board of Directors of K.P. Energy Limited at its meeting held today on March 16, 2018 has, subject to approval of the members of the company through postal ballot, recommended issue of Bonus Shares to the members of the Company by Capitalisation of its reserves in the ratio of 3 (three) bonus equity share of Rs. 10/- each fully paid up for every 10 (Ten) existing equity shares of Rs.10/- each fully paid up (i.e. in the ratio of 3:10) held by the members as on a 'record date' to be fixed hereafter for the purpose.
The Board has also considered and approved increase in authorized share capital of the company to accommodate the Bonus, from Rs. 10.60 crore to Rs. 12.50 crore and subsequent alteration of Memorandum of Association to give effect to said increase in authorized share capital.
The Company will also seek the approval of members of the Company through postal ballot for increase in authorized share capital and issue of Bonus shares.
Shares of K.P. Energy Ltd was last trading in BSE at Rs.199.9 as compared to the previous close of Rs. 199. The total number of shares traded during the day was 6250 in over 10 trades.
The stock hit an intraday high of Rs. 199.9 and intraday low of 194. The net turnover during the day was Rs. 1236687.