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Life Insurance Corp. of India Allots 6.33 Billion Bonus Shares in 1:1 Issue

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Life Insurance Corp. of India (NSE:LICI, BOM:543526) allotted 6.33 billion fully paid-up bonus equity shares in a 1:1 ratio to shareholders of record on May 29, according to an Indian bourse filing on Monday.

Under the bonus issue, shareholders received one bonus share for every existing equity share held, the filing said.

Following the allotment, the insurer's paid-up equity share capital increased to about 126.5 billion rupees, comprising 12.6 billion shares, the filing said.

Shares of the company were down nearly 2% in recent trade.

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