NSE: 2nd November Is the Record Date for 4:1 Bonus Issue
Moneylife Digital Team 18 September 2024
National Stock Exchange of India Ltd (NSE) has decided to allot bonus shares to all shareholders in 4:1 ratio. NSE announced book closure and record date for the bonus issue. The bonus shares will be allotted to shareholders of NSE, whose names appear in the registrar of members on 2 November 2024, the record date.
 
A senior official told Moneylife that as per the Companies Act, all NSE shares are pari pasu, and shareholders have equal rights, irrespective of who holds them and the number of shares.
 
In a statement, NSE says, "the register of members and share transfer books of the Company will remain closed from 4 October 2024 to 2 November 2024 (both days inclusive) (book closure) and the record date has been fixed as 2 November 2024."
 
NSE, however, clarified that it will not entertain fresh applications for the transfer of shares during the book closure period. "Only transfer applications where the stage II documents (viz., documents required for processing the transfer of shares through corporate action form),  complete in every respect, have been received before the commencement date of book closure would be undertaken for further processing."
 
"In case of any deficiencies in the documents submitted, and consequent rejection of the same by the depositories, the parties will be allowed to rectify the deficiencies at least five days before the record date, failing which the applications will be put on hold to be executed post the allotment of bonus shares," NSE says.
 
If deficiencies are not resolved and, consequently, shares are not credited to the buyer's demat account, the bonus shares will be credited to the account of the registered holder on the record date, the Exchange added.
 
On 3 May 2024, the board of directors of NSE approved a bonus issue by way of capitalisation of reserves in the ratio of 4:1, or four fully paid bonus shares of Re1 each for every one share (of Re1) held by the shareholders of the Exchange.
Comments
r_ashok41
5 months ago
i presume nse is still not listed if my understanding is correct so it will not benefit retail investors and only institutional investors
Free Helpline
Legal Credit
Feedback