Shalibhadra Finance Ltd. and Shilchar Technologies Ltd. are set to allocate bonus issues of shares to their stakeholders, ahead of their respective record dates next week.
To be eligible for a bonus issue, investors should pay attention to the record date, which is used to determine which shareholders are entitled to receive the bonus shares. 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.
Here is a look at companies that declared record dates for bonus issues coming up this week:
Shalibhadra Finance
Shalibhadra Finance's board has recommended an issue of bonus shares in the ratio of 3:1 with a face value of Rs 10 each. The record date to determine the eligible shareholder is set for June 4, and the deemed date of allotment would be June 5.
Shares of the company closed 0.82% lower at Rs 543.85 per share, compared to a 0.22% decline in the benchmark BSE Sensex on Friday.
Shilchar Technologies
Shilchar Technologies' board has recommended an issue of bonus shares in the ratio of 1:2 with a face value of Rs 10 each. The record date to determine the eligible shareholder is set for June 6, and the deemed date of allotment would be June 9.
Shares of the company closed 0.54% lower at Rs 7,496.50 per share, compared to a 0.22% decline in the benchmark BSE Sensex on Friday.
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