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Thursday, Aug 18, 2005

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DCM Shriram approves stock split, bonus issue

Our Bureau

New Delhi , Aug. 17

DCM Shriram Consolidated Ltd on Wednesday approved a bonus issue of one equity share for every one equity share and a stock split of five shares for every one share of Rs 10, subject to shareholders and regulatory approval.

The current paid-up share capital of the company is Rs 16.59 crore represented by 1.659 crore equity shares of Rs 10 paid-up. Post the bonus and the stock split, the equity share capital is expected to increase to Rs 33.18 crore represented by 16.59 crore equity shares of Rs 2 each paid-up, said a company release.

The company has planned investments of Rs 900 crore during April 2004 to March 2007 to increase capacities in Chlor-Alkali, PVC and sugar businesses. Moreover, it would also be increasing its power generation capacity from the current 133 MW to 230 MW to meet the enhanced captive requirements and supply approximately 38 MW to the grid.

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