ONGC allots bonus shares in the ratio of 1:2

Oil and Natural Gas Corp has allotted bonus shares in the ratio of 1:2 to its shareholders as on the record date of October 30.

The shares have been allotted after the recommendations of the Board of Directors and approval of the shareholders in the AGM on September 19.With the issue of 71,29,57,510 Bonus shares, the company's paid-up equity share, with a face value of Rs 10, has gone up to Rs 2138.87 crore.

While the demat accounts have been credited with bonus shares, share certificates have been dispatched on November 15 and allotment advices are under dispatch, the company said in a statement.Trading permission to deal in the bonus shares has been granted by National Stock Exchange and Bombay Stock Exchange.

For fractional bonus shares, ONGC has appointed a Trustee for distribution of net sale proceeds among entitled shareholders.