Indraprastha Gas Ltd. (IGL), India’s largest city gas distributor, has announced its first-ever bonus issue, offering one free share for every share held by shareholders. The move, aimed at boosting retail investor participation and rewarding shareholders, was approved by the company’s Board of Directors on Tuesday.
The bonus shares, with a face value of Rs 2 each, will double the company’s share capital from ₹140 crore to Rs 280 crore by capitalising Rs 140 crore from its free reserves. IGL has a total of ₹8,411.74 crore in free reserves, reflecting its strong financial position.
The bonus shares are expected to be credited within two months, with the record date for eligible shareholders to be announced soon.
Operating across Delhi, NCR, and several cities in Haryana, Rajasthan, and Uttar Pradesh, IGL serves over 1.7 million CNG vehicles through 882 CNG stations and supplies piped natural gas (PNG) to more than 2.5 million households.
The company emphasised that the bonus issue aligns with its commitment to enhance shareholder value and reinforce investor trust, highlighting its strong financial performance and future growth prospects.
Managing Director Kamal Kishore Chatiwal stated that the bonus issue reflects IGL’s focus on creating long-term shareholder value. Director (Commercial) Mohit Bhatia added that the move is a testament to the company’s robust financial health and vision for sustainable growth.
