New Delhi, June 06: State-run Indian Oil Corporation (IOC) today declared a 1:2 bonus to its shareholders. The Board of IOC, which met on Friday, decided to give one share as bonus to holders of two equity share, company sources said.

Government holds 82.03 per cent stake in IOC while the public float is limited to 3.70 per cent.
Post bonus, the company's equity capital will expand to Rs 1168 crore from the present Rs 778.67 crore, thereby improving the debt-equity ratio and giving the country's largest refiner more room to borrow funds.
State-run exploration firm Oil and Natural Gas Corporation (ONGC) holds 9.11 per cent stake in IOC, while Mutual Funds and UTI hold 4.42 per cent. Banks and financial institutions have 2.40 per cent stake and Life Insurance Corporation has two per cent. Bureau Report