InvestorQ : Can you tell me about the Britannia Industries bonus debenture issue?
swati Bakhda made post

Can you tell me about the Britannia Industries bonus debenture issue?

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Sam Eswaran answered.
3 weeks ago
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The board of directors of FMCG major, Britannia Industries, has approved a proposal to raise Rs.699 crore through the issue of bonus debentures. This is something that Britannia has even done in the past, when it had issued bonus debentures to its shareholders instead of issuing bonus shares. This is an interesting method of rewarding shareholders via fixed income debt and also raising funds for the company.

Britannia Industries will allot one unsecured, full-paid up NCD as a bonus debenture with a face value of Rs.29 each for every equity share held by the shareholder. The record date for the issue of bonus debentures will be 27 May 2021 to determine the eligibility of receiving bonus debentures. Like on previous occasions, the bonus debentures will be listed on the BSE as well as on NSE.

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