Reliance Power annouced 3:5 Bonus Shares

Thebullishtrends: Reliance Power today announced that it gives three bonus shares for every five shares held. The board of directors of Reliance Power at its meeting today considered and approved a bonus issue excluding promoters, as per which three shares would be allotted for every five held. This issue would benefit over four million investors in the company and the cost would be borne by the promoter group by way of diluting its stake. Then it will works out Rs.260 per share as per the Friday closing price of Rs.416.