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VSNL board revises bonus issue ratio to 2:1
Our eFE Bureau
Videsh Sanchar Nigam Ltd (VSNL) on Friday announced bonus shares from earlier recommended ratio of 1:1, to the enhanced ratio of 2:1, or two new shares for every one share held. With this, the post bonus issue paid-up capital of the company will become Rs 285 crore. Earlier, in July, the board had recommended bonus shares in the ratio of 1:1, with which the paid up capital would have become Rs 190 crore. On Friday it revised its earlier decision in order to meet the criteria of paid up capital of Rs 250 crore, to become eligible for license to enter in Domestic Long Distance Services (DLD), announced recently. The Board has also approved increasing VSNL's authorised share capital to Rs 300 crore from the existing Rs 100 crore, according to a release issued by the company. Meanwhile, on August 15, VSNL had become the first public sector unit to list on any stock exchange in the US, when VSNL's ADR commenced trading on New York Stock Exchange....Announces procurement of additional bandwidth
VSNL on Friday announced the procurement of additional Internet bandwidth for its customers. VSNL already has 331 Mbps Internet capacity. At the board meeting, which was held Friday, an additional procurement of 465 Mbps was approved, which will be available within next two months. This procurement is happening much before its schedule date, which was December 2000. VSNL total Internet bandwidth will now become 775 Mbps inclusive of the existing availability. VSNL also went on record that bandwidth on demand will be made available after October, 2000 for 2 Mbps bandwidth on commissioning of the three STM-1 (totalling 465 Mbps) links from India to USA. The bandwidth which is now approved by the board will help to clear all the pending requirements of Internet Bandwidth demand, which will help clear all the pending requirements for bandwidth. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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