KBC Global Bonus Issue: Record Date Set for April 4

New Delhi, Apr 2 (PTI) Infrastructure and construction developer KBC Global Ltd has fixed the record date as April 4 for its 1:1 bonus issue of shares, according to a statement.

The board of KBC Global in February approved a bonus issue of one share for every share (1:1) held by the company's shareholders. The board earlier fixed March 28 as the record date to determine eligible shareholders entitled to receive bonus shares, but on March 26 withdrew the record date.

The board has fixed April 4 as the new record date for the bonus issue, KBC Global said in the statement.

KBC Global said that it aims to turn around business operations with plans to expedite expansion plans and debt reduction in the near future.

The order book of the company is at over Rs 260 crore. The bonus equity shares will be issued from the company's permissible reserves. A total of Rs 261.43 crore will be utilized for the bonus issue, with shares credited within 60 days of board approval.