SBC Exports (NSE:SBC, BOM:542725) has received board approval for the allotment of bonus equity shares, according to a Tuesday filing to the Indian stock exchanges.
The company plans to allot 158,730,000 bonus equity shares of 1 rupee each in a ratio of 1:2. It will issue one bonus share for every two shares held by the eligible members as of March 10.
This has increased the company's paid-up equity share capital to 476.2 million Indian rupees, consisting of 476,190,000 equity shares.
Shares of the garments manufacturer were down nearly 10% in recent trade.
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