NMDC Bonus Share: PSU Announces Record Date For 1:2 Share Reward - Details

NMDC has announced the issuance of bonus shares in the ratio of 2 new equity shares for every 1 existing equity share held. The Record Date to determine eligibility for the bonus shares has been fixed for Friday, 27th December 2024.

The announcement follows the approval granted by the shareholders at the Extraordinary General Meeting (EGM) held on 12th December 2024. This approval has paved the way for the Company to move forward with its plan to issue 586,12,11,700 equity shares of ₹1/- each as bonus shares.
The Company has also received in-principle approval from both BSE Limited and the National Stock Exchange of India Limited under Regulation 28(1) of SEBI LODR, 2015. The approval was granted through letters dated 16th December 2024. This clearance allows the Company to proceed with the bonus issue and allotment as per the proposed terms.

The deemed date of allotment for the bonus shares has been set for Monday, 30th December 2024. Shareholders eligible for the bonus issue will receive their allotted shares based on the Record Date. These bonus shares will be made available for trading on the stock exchanges starting from Tuesday, 31st December 2024, in compliance with the SEBI circular dated 16th September 2024, which mandates the timeline for making bonus shares available for trading.
The shares will be allotted under ISIN No.: INE584A01023, and shareholders are encouraged to ensure their eligibility as per the Record Date. The move to issue these bonus shares is expected to enhance shareholder value and reflect the Company’s continued growth and commitment to rewarding its investors. With this development, the Company strengthens its position in the market while providing additional opportunities for investors to benefit from their equity holdings.