The board of Mphasis BFL Ltd has recommended a bonus issue of equity shares in the ratio of one share for every one share held (1:1).
The board proposed issuance of bonus shares at its meeting on Thursday, subject to shareholders approval, the company informed the Bombay Stock Exchange.
Consequent to the bonus issue, the paid up share capital of the company would increase from Rs 35.44 crore (Rs 354.4 million) to Rs 70.88 crore (Rs 708.8 million), it said.