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Biocon shareholders approve issue of bonus shares

LiveMint logoLiveMint 07-06-2017 PTI

New Delhi: Biotechnology major Biocon on Wednesday said its shareholders have approved issue of bonus shares. The company’s shareholders have approved the issue of bonus shares by way of capitalisation of reserves, Biocon said in a regulatory filing.

“Consequent to the shareholders’ approval the authorised share capital of the company stands increased from Rs110 crore divided into 22 crore shares of Rs5 each to Rs300 crore divided into 60 crore shares of Rs5 each,” it added.

The ordinary resolution was passed with 99.99% of the members favouring the move. Biocon shares on Wednesday ended 0.77% up at Rs998.50 apiece on BSE.

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