ONGC Board approves share split and bonus

Oil and Natural Gas Corporation (ONGC) Board today has recommended for approval of the shareholders for sub division of each Equity Share of the Company of Rs.10/- each fully paid up into two equity shares of Rs.5/- each fully paid up

The Board has also recommended for approval of the shareholders for issuance of Bonus shares in the proportion of one new Equity Share of Rs.5/- each as a Bonus for every one existing Equity Share of Rs.5/- each fully paid up by capitalization of reserves

The move comes ahead of the proposed Follow-on Public Offer of the Company, which is expected to hit the markets soon