This makes today the last day to buy the shares of the company to be able to qualify for the said bonus issue.
“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, January 03, 2025, as the Record Date for the purpose of determining the entitlement of the equity shareholders of the Company for issue and allotment of 4 (Four) new fully paid-up bonus equity shares of Rs. 10/- each for every 1 (One) existing fully paid-up equity shares of Rs. 10/- each held by the members of the Company,” the company said in an exchange filing.
This is the first-ever instance when the company is issuing bonus shares to its eligible shareholders, according to the Trendlyne data.
Also read: Nifty logs negative returns 7 times in January over 10 years; seasonality unfavourable for FIIs too
The record date is the date set by the company to decide the shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account on the record date.
Shareholders who buy the stock at least one day before the ex-date are eligible for the offers as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends/splits/bonus issues etc.
The shares of Garware Technical Fibres have increased by 41% in the last one year and in CY 24.
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