New Delhi, Aug. 6 -- Chavda Infra on Thursday announced a 1:1 bonus share issue, under which shareholders will receive one fully paid-up equity share for every one existing equity share held, subject to shareholders' and other regulatory approvals.

The company's board also approved an increase in its authorised share capital to Rs.70 crore from Rs.35 crore and cleared the draft postal ballot notice to seek shareholders' approval for the proposed bonus issue and the capital hike.

"The Board considered and recommended a bonus issue in the ratio of 1:1, i.e., one new bonus equity share of Rs.10/- each for every one existing fully paid-up equity share of Rs.10/- each, subject to approval by the shareholders and any other applicable statutor...