{"id":107766,"date":"2023-08-22T17:23:16","date_gmt":"2023-08-22T11:53:16","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107766"},"modified":"2023-08-22T17:23:18","modified_gmt":"2023-08-22T11:53:18","slug":"pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares\/","title":{"rendered":"PFC seeks a nod from shareholders for issuing bonus shares"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3266122059\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>State-owned <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PFC\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Power Finance Corporation<\/a><\/strong> (PFC) will seek shareholders&#8217; approval for the issuance of bonus shares by capitalising up to Rs 660.02 crore in its securities premium account.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2032519568\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>PFC has proposed to issue bonus shares by capitalising securities premium accounts to the extent that each shareholder is entitled to a new equity share of Rs 10 each for every four equity shares of Rs 10 each.<\/p><p>The proposal has been listed for the Annual General Meeting (AGM) scheduled on September 12, according to the agenda of the meeting.<\/p><p>PFC&#8217;s board, at its meeting on August 11, recommended issuing of bonus shares to shareholders in the proportion of 1:4 by capitalising Rs 6,60,02,03,520 in the securities premium account.<\/p><div class=\"trade-content_5\" id=\"trade-20222023\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company will also seek shareholders&#8217; approval for the appointment of Parminder Chopra as its Chairman and Managing Director (CMD).<\/p><p>Pursuant to the Ministry of Power order on August 14, 2023, the board of directors, on the recommendation of the Nomination and Remuneration Committee, appointed Chopra as the CMD with immediate effect.<\/p><p>Chopra&#8217;s appointment on the board of the company requires shareholders&#8217; approval, as per Sebi regulations.<\/p><p>Infrastructure financing firm Power Finance Corp Ltd (PFC) provides financial products and related consultancy services. It provides short-term loans, equipment lease financing, direct bill discounting, term loans for projects, and other services.&nbsp;<\/p><p>Takeout financing, asset acquisition, a credit facility for the purchase of electricity through a power exchange, refinancing of the debt of commissioned projects along with additional corporate loans for new-expansion-acquisition of projects, financial support for distribution franchisees, among other services, are among its offerings.<\/p><div class=\"trade-after-content\" id=\"trade-1382103183\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>State-owned Power Finance Corporation (PFC) will seek shareholders&#8217; approval for the issuance of bonus shares by capitalising up to Rs 660.02 crore in its securities premium account. PFC has proposed to issue bonus shares by capitalising securities premium accounts to the extent that each shareholder is entitled to a new equity share of Rs 10 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-107766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PFC seeks a nod from shareholders for issuing bonus shares - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"State-owned Power Finance Corporation (PFC) will seek shareholders&#039; approval for the issuance of bonus shares by capitalising up to Rs 660.02 crore in its securities premium account.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PFC seeks a nod from shareholders for issuing bonus shares\" \/>\n<meta property=\"og:description\" content=\"State-owned Power Finance Corporation (PFC) will seek shareholders&#039; approval for the issuance of bonus shares by capitalising up to Rs 660.02 crore in its securities premium account.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-22T11:53:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-22T11:53:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares\/\",\"url\":\"https:\/\/tradebrains.in\/features\/pfc-seeks-a-nod-from-shareholders-for-issuing-bonus-shares\/\",\"name\":\"PFC seeks a nod from shareholders for issuing bonus shares - 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