Bharat Rasayan Gets Board Nod For 1:1 Bonus Share Issue, Stock Split
Bharat Rasayan's board has approved a sub-division of existing 41.55 lakh equity shares, as per a regulatory filing.
Bharat Rasayan Ltd.'s board of directors approved a 1:1 issue of bonus share along with a share split, according to an exchange filing on Friday.
According to the filing, the board has approved sub-division of existing 41.55 lakh equity shares with the face value of Rs 10 into 83.10 lakh equity shares with a face value of Rs 5.
Additionally, the board has also recommended issue of bonus equity shares in the ratio of 1:1 that, 1 equity share(s) of Rs 5 each for every 1 equity share of Rs 5 awarded to the eligible members of the company.
The record date for the same will be announced later and is subject to the approval of the shareholders of the company.
Investors who want to be eligible for a bonus issue should pay attention to the record date, which is used to determine eligible shareholders.
The company announces this date in advance, and only those who hold the shares in their demat account as of this record date will be eligible for the bonus allotment. Under India's T+1 settlement cycle, investors must buy the shares at least one trading day before the record date to be eligible.
Share Price
Shares of Bharat Rasayan closed 1.22% higher at Rs 11,768 apiece on the NSE on Friday, compared to a 0.37% decline in the Nifty index. The stock has risen 17.14% year-to-date and 11.73% in the last 12 months.
