NSE:RMDRIP

R M Drip and Sprinklers Systems Allots Bonus Equity Shares; Shares Down 4%

R M Drip and Sprinklers Systems (NSE:RMDRIP, BOM:544456) has allotted 178.4 million fully paid-up bonus equity shares of face value of 1 Indian rupee each in the ratio of 5:7, according to a Monday filing to the Indian stock exchanges.The bonus shares have been allotted five new fully paid-up equity shares of 1 rupee each for every seven existing fully paid-up equity shares of 1 rupee each held by the eligible shareholders.Following the allotment, the company's paid-up equity share capital has increased to 428.2 million rupees, comprising 428.2 million equity shares of face value of 1 rupee each.The company's shares were down nearly 4% in recent trade.