La Opala to issue 1:1 bonus shares

The crystalware manufacturer will use unutilised security premium of Rs 5.29 crore for issuing 52,98,766 bonus shares.

Crystalware manufacturer La Opala RG Ltd on Wednesday said it would issue bonus shares in 1:1 ratio to the shareholders.

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The shareholders at the Extra-Ordinary General Meeting (EGM) approved the use of unutilised security premium of Rs 5.29 crore for issuing 52,98,766 bonus shares of Rs 10 each in proportion of one bonus share for every one existing equity share, the West Bengal-based company informed the Bombay Stock Exchange.

Shares of the company were trading at Rs 97.10, down 0.72 per cent.