Shares of smallcap stock Bajaj Steel Industries, which has given whopping returns of 211% in the last 1 year, are likely to remain in focus in today’s session as the company had announced November 12 as the record date for its 3:1 bonus issue.“In reference to our previous intimation dated October 03, 2024 and pursuant to Regulation 42 of the SEBI Listing Regulations, 2015, and on the receipt of shareholder’s approval at the EGM held on October 28, 2024, this is to inform you that the Bonus Shares Allotment Committee of the Company has fixed the date of Tuesday, November 12, 2024 as the “Record Date” to determine the eligibility of shareholders for the issuance of Bonus Shares in the ratio 3:1 i.e. three (3) new equity shares for every one (1) share held by the shareholders,” the company said in an exchange filing earlier in October.This means today is the last day to buy the shares of Bajaj Steel Industries in order to qualify for the bonus share issue.A 3:1 bonus share issue means that for every 1 share a shareholder already owns, they will receive 3 additional shares as a bonus.This increases the total number of shares held by the shareholder but does not change the overall value of their investment, as the price per share is adjusted proportionally to account for the increased number of shares.According to the Trendlyne data, this is the first instance of the company issuing bonus shares to its shareholders.The shares of the company have surged 200% in the current calendar year and by 168% in the last 6 months itself.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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