The company will distribute Rs 443.7 million in dividend.
Earlier, the company issued 4.08 million units of FPO at a price of Rs 501 at premium. After the FPO, the paid-up capital has reached Rs 2.21 billion. The company collected Rs 1.63 billion through premium on FPO.
However, those investors who invested in the FPO might find the cash dividend unappealing given that they will receive less than 4 percent cash dividend after adjusting their investment of Rs 501 per share. The market price of the stock is at Rs 470 in the secondary market at present.
