The Securities and Exchange Board of India (Sebi) has implemented a new rule for credit of bonus shares in demat accounts of investors, to be in force from October 01, 2024. NBCC's bonus share issue's record date is Monday, October 07, 2024, with the Ex Bonus Date also on the same day. However, since all stocks in India now follow T+1 settlement cycle, only those investors who have bought NBCC shares latest by Friday, October 04, 2024 will be eligible for the bonus issue. Stay updated and follow News24 for the latest news and updates on the NBCC bonus share issue.
NBCC Bonus Share Issue: A Comprehensive Overview
Background
National Buildings Construction Corporation Limited (NBCC), a state-owned enterprise under the Ministry of Housing and Urban Affairs, announced a bonus share issue in a ratio of 1:2 on June 29, 2023. This means that for every two shares held by an investor, they will receive one additional bonus share. The record date for the bonus issue is October 7, 2024.
Key Points
Top 5 FAQs
1. When will NBCC bonus shares be credited to my account?
Bonus shares will be credited to eligible shareholders' demat accounts on October 7, 2024.
2. Am I eligible for NBCC bonus shares?
You are eligible for NBCC bonus shares if you have purchased NBCC shares by October 4, 2024, and held them until October 7, 2024.
3. What is T+1 settlement cycle?
T+1 settlement cycle means that the transaction will be settled one day after the trade date. In the case of NBCC bonus shares, only those investors who have purchased the shares by October 4, 2024 will be eligible for the bonus issue.
4. What are the Sebi rules for crediting bonus shares?
According to Sebi's new rules, bonus shares will be credited to the demat accounts of investors only if they have purchased the shares before the record date and held them until the credit date.
5. What is the benefit of bonus shares?
Bonus shares increase the number of shares held by investors without any additional investment. This can improve the investor's overall returns and enhance the liquidity of the stock.
Conclusion
NBCC's bonus share issue is a positive development for shareholders, as it increases their stake in the company without any additional investment. Investors who are considering purchasing NBCC shares should ensure that they do so before October 4, 2024 to be eligible for the bonus issue.
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