Steel Authority of India to issue bonus shares before FPO

Steel Authority of India (SAIL) is likely to issue bonus shares before its follow-on public offer, sources told CNBC-TV18′s Aakansha Sethi. The government has suggested a bonus issue but the company’s management is yet to finalise its issue plans.

To issue bonus shares, the company’s reserves have to be three times the paid-up capital. SAIL’s paid-up equity capital stands at Rs 4130 crores as on March 2009, with reserves and surplus at Rs 23853 crores.

Share’s Data :
BSE Code : 500113
NSE Code : SAILEQ
Mkt. Cap: Rs 84404 Crores
P/E Ratio: 13.80
EPS (Rs): -16.37
Face Value : Rs 10
Last Dividend : 16% in Jan 2010
52 Week H/L : Rs 258.30 / 70.00
Steel Authority of India (SAIL) Ltd. share’s CMP is Rs 204.35 on 8th Feb 2010.