Housing Development and Infrastructure Limited (HDIL) has made an announcement to the stock exchanges in which it is listed that the board of director who had a meeting yesterday have recommended an issue of bonus shares to the shareholders of HDIL. HDIL bonus issue ratio has also been fixed by the board of directors of the company. The ratio is 2:7. Investors had expected a much more liberal bonus issue from the board of directors. A bonus issue ratio of 2:7 means that investors will get 2 bonus shares for every 7 existing shares that they hold in HDIL. The record date for the purpose of determining the eligible shareholders for the bonus issue has not yet been announced by the company. The record date is expected to be announced next month.

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