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Biocon shareholders approve issue of bonus shares

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The bonus shares were approved by way of capitalisation of reserves

Biotechnology major Biocon 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 Rs 110 crore divided into 22 crore shares of Rs 5 each to Rs 300 crore divided into 60 crore shares of Rs 5 each,” it added.

The ordinary resolution was passed with 99.99 per cent of the members favouring the move.

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