NMDC has announced a bonus share issue in the ratio of 2:1, which means shareholders will receive two new equity shares for every one existing share they hold. This move reflects NMDC’s intention to reward shareholders and improve liquidity in the market.
The company will allot 586,12,11,700 equity shares of ₹1 each under this bonus issue. Notably, NMDC has previously issued bonus shares in the same ratio back in 2008.
NMDC has fixed Friday, December 27, 2024, as the Record Date. This date is crucial as it determines shareholder eligibility for the bonus shares. Investors who hold NMDC shares at the end of the trading day on December 27 will be eligible to receive the bonus allotment.
To ensure eligibility, investors should consider purchasing NMDC shares at least a day prior to the record date due to the T+1 settlement cycle.
NMDC has provided the following timeline for the bonus share process:
The company clarified that the process aligns with the SEBI circular dated September 16, 2024. Upon crediting the shares to investors’ Demat accounts, the bonus shares will be immediately available for trading.
As of December 17, 2024, at 2:56 PM, NMDC’s share price was trading lower by 2.17% at ₹227.60.
Mark your calendars for the key dates:
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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