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Investors will be keenly watching the board meeting of Gail (India) on Wednesday, as it considers a bonus issue and plans to raise funds through issuance of bonds on private placement basis.
Earlier in 2008, the company had declared bonus shares in the ratio of 1:2 — one bonus share for every two shares held.
About 1.55 lakh small investors own 1.85 crore shares (1.46 per cent stake of the paid-up capital) of Gail (India). LIC owns close to 10 per cent in the oil major.
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