GRM Overseas Ltd. and Ram Ratna Wires Ltd. are 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.
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This means that purchases made on the record date itself will not reflect in the demat account in time. The board of GRM Overseas had recommended an issue of bonus shares in the ratio of 2:1 new fully paid-up equity shares. This means that shareholders will receive two 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. 24.
This marks the company's second bonus issue, the previous one having been announced in July 2021 at a ratio of 2:1.
Similarly, the board of Ram Ratna Wires had recommended an issue of bonus shares in the ratio of 1:1 new fully paid-up equity shares. This means that shareholders will receive one 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. 26.
This marks the company's second bonus issue, the previous one having been announced in September 2022 at a ratio of 1:1.
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