Focus Business Solution Ltd. is scheduled to issue bonus shares to their stakeholders ahead of its record dates next week. To be eligible for a bonus issue, investors 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. This means that purchases made on the record date itself will not reflect in the demat account in time.
Focus Business Solution board announced a 29:50 bonus, meaning that the company will issue 29 bonus shares of Rs 10 each for every 50 fully paid-up equity share of Rs 10 each held by the members of the company as on the record date, subject to approval of the members of the company.
The record date for the bonus shares has been fixed for July 21, which means only those shareholders who hold Focus Business Solution shares by June 18 will be eligible.
The bonus shares will be credited within two months from the date of board by Aug. 19.
Shares of the company closed 3.45% higher at Rs 150 apiece, compared to a 0.61% decline in the benchmark BSE Sensex on Friday.
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