Patanjali Foods Ltd. said its board has cleared the company’s first-ever bonus share issue, offering investors two new equity shares for every existing share held. The decision, taken at a board meeting on 17 July, will be put to shareholders through a postal ballot. The fast-moving consumer goods and edible-oil group told exchanges it will announce the record date for eligibility in due course and aims to credit the additional shares on or before 16 September. The distribution will be financed by capitalising the capital-redemption reserve, securities premium and general reserve. If approved, the move will triple the company’s paid-up equity base to roughly 1.09 billion shares of Rs2 each, raising the capital to about Rs217.5 crore from Rs72.5 crore. Patanjali Foods, formerly Ruchi Soya, has rallied in recent sessions and is up 48% over the past two years.