India: UB Holdings to issue bonus shares in 1:1 ratio

Mumbai, July 14: United Breweries Holdings Ltd, the investment holding company of Vijay Mallya-controlled UB Group, has said it will issue bonus shares in the ratio of 1:1, Zee News communicated July 14.

The EGM held July 13 approved the issue and allotment of the bonus shares, where one equity share would be allotted for every one share held, the company informed the Bombay Stock Exchange.

Last month UB Holdings had said it would seek shareholders nod for a 1:1 bonus issue and had also announced the decision to raise Rs 1,500 crore through borrowings to fund capital expenditure requirements as well as mergers and acquisitions.

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