New Delhi, Feb. 17 -- KBC Global shares gained 2% on Monday, February 17, after the company's board of directors approved a bonus issue of shares in the ratio of 1:1.

The Nashik-based construction and real estate company's board of directors on February 15 approved the issuance of fully paid-up bonus shares in the ratio of 1:1, meaning that the company will issue one equity share for each share held.

The company will inform in due course the "record date" for determining shareholders entitled to receive bonus shares, KBC Global said in an exchange filing.

The bonus equity shares will be issued from the company's permissible reserves, including free reserves, securities premium account, and capital redemption reserve, as of March 31, 20...