Bonus Shares This Week: Apis India — Check Record Date
This marks the company’s second bonus issue, the previous one having been announced in December 2010.
Apis India Ltd. is set to disburse bonus shares to its stakeholders, in the week ahead. 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. The board of Apis India Ltd. had recommended an issue of bonus shares in the ratio of 24:1 new fully paid-up equity shares. This means that shareholders will receive 24 new fully paid-up equity shares for every existing share they hold, subject to shareholder approval. The record date for the same is set as Dec. 5.
This marks the company’s second bonus issue, the previous one having been announced in December 2010 at a ratio of 323:100.
The stock has delivered notable performance across various time frames. With a market capitalisation of Rs 604.95 crore, its share price has ranged between a 52-week high of Rs 1,097.90 and a 52-week low of Rs 280.40.
Shares of Apis closed on Friday at a 5% uptick on the BSE, at Rs 1,097.90 apiece. This compares to a marginal decline in the benchmark Sensex.
