Pidilite Industries, Time Technoplast Bonus Issues: Last Day To Buy Shares To Qualify — Check Details
Both companies have fixed Tuesday, Sept. 23, as the record date for the purpose of determining the equity shareholders eligible for bonus equity shares.
Pidilite Industries Ltd. and Time Technoplast Ltd. will be on the market radar on Monday as it marks the last session for investors to buy shares to qualify for the bonus issue of shares ahead of the record date.
Pidilite will provide one free bonus equity share of face value of Rs 1 each for every one fully paid-up equity share held.
Time Technoplast will offer one free bonus equity share of face value of Rs 2 each for every one fully paid-up equity share held.
Both companies have fixed Tuesday, Sept. 23, as the record date for the purpose of determining the equity shareholders eligible for bonus equity shares.
Only those investors who hold Pidilite Industries and Time Technoplast 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 free bonus shares will be credited to shareholders on Wednesday, Sept. 24. They will be notified of the credit through the depository firm. Consequently, the bonus shares will be available for trading from the next session, Sept. 25.
A bonus issue is the distribution of free shares to eligible shareholders. The share price adjusts in the ratio of the bonus allotment at the ex-date. However, this does not affect the overall value of holdings.
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Pidilite Industries is a Mumbai-headquartered company that manufactures and sells adhesives, sealants, construction chemicals, art materials, and industrial chemicals. The company is known for its iconic brands such as Fevicol, M-Seal, and Dr. Fixit.
Time Technoplast is a multinational conglomerate involved in the manufacturing of polymer and composite products. The company's products include drums, pails, containers, intermediate bulk containers, mox films, composite cylinders, HDPE pipes, DWC pipes, 3S rain flaps, radiator tanks, fuel tanks, air ducts, PET sheets, face shields, car mats, among others.
