Bonus Issue Alert: Small Cap Auto Stock Announces Record Date For 1:1 Bonus Issue - Details

The Company has announced a 1:1 bonus share issue, meaning shareholders will receive one additional fully paid equity share for each existing share held.

“ This is further to our letters dated 13th November 2024 and 20th December 2024 intimating the decision of the Board of Directors and the Members of the Company, respectively, for approval to issue Bonus Shares in the ratio of 1:1 and pursuant to the Securities and Exchange Board of India”, release stated. 

Bonus Record Date 

To determine eligibility for the bonus shares, the Company has set Monday, December 30, 2024, as the record date. Shareholders listed in the Company's Register of Members or the Depositories' Register of Beneficial Owners on this date will qualify for the bonus shares.

Bonus Shares Details

• Proportion: 1:1 ratio—one new fully paid equity share of Rs 2 each for every existing fully paid equity share of Rs 2 each.
• Allotment: Bonus shares will be credited in dematerialized form only. Shareholders holding shares in physical form who haven't provided their demat account details will have their bonus shares credited to a new Demat Escrow Suspense Account until their beneficiary accounts are updated.
• Rights: Once allotted, these bonus shares will rank equally with existing fully paid equity shares and will be subject to the Company's Memorandum and Articles of Association.

Banco Products India Today

As of December 24, 2024, Banco Products (India) Ltd. ( NSE : BANCOINDIA) had the following stock performance:

On December 24, 2024, Banco Products (India) Ltd. opened at Rs 1,022.00 and closed at Rs 998.40, marking a decline of approximately 2.31 per cent by the end of the trading day. The stock reached a high of Rs 1,055.00 and a low of Rs 960.15 during the day. A total of 247,035 shares were traded on the market.