Mumbai, July 1: The board of I-Flex Solutions Ltd has recommended issuance of bonus shares in the ratio of 1:1, subject to shareholders approval. The board also cleared a proposal for sponsored or fresh issue of American depository receipts/global depository receipts, the company informed the Mumbai Stock Exchange today.

The directors gave a nod to raise ceiling on the Foreign Institutional Investors (FIIs) investments in I-Flex upto 60 per cent of equity share capital, it said.

The company has convened the annual general meeting of shareholders on July 31 for a bonus issue, ADR\GDR issue and hike in FII investments ceiling as part of the business agenda, it added.
Bureau Report