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IFGL Refractories has said that the board of directors of its subsidiary, IFGL Exports, on Monday recommended issue of bonus shares in the ratio of 3.5:10 (three and a half equity shares for every 10 held). The proposal is subject to approval by shareholders and other permissions as may be required. IFRL holds 51 per cent stake while 20 per cent is held by Krosaki Harima Corporation, Japan (a subsidiary of Nippon Steel, Japan), according to the IFGL Refractories website. Shares of IFGL Refractories climbed 1.72 per cent at ₹147.65 on the NSE.
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