LIC shareholders approve 1:1 bonus issue
pre-market1 source ↓written by the desknot a recommendation
- LIC announced
- 99.9998%
- approved
- 22 lakh shareholders
- approved
- 1:1 bonus share issue
- from its reserves
- ₹6,325 cr
- on NSE
- ₹805.5
Life Insurance Corporation of India (LIC) announced that 99.9998% of its 22 lakh shareholders approved a 1:1 bonus share issue. This decision will capitalize ₹6,325 cr from its reserves, with shares expected to be credited within two months. Following the announcement, LIC shares rose around 2%, reaching an intraday high of ₹805.5 on NSE.
The bonus issue reflects strong shareholder support and may enhance liquidity and investor sentiment in the insurance sector.
Not investment advice. For informational purposes only.