VRL Logistics 1:1 bonus issue: Record date tomorrow, last chance to buy today
VRL Logistics
in order to be eligible for its recently announced 1:1 bonus share issue. The company has set Thursday, August 14, as the record date for determining the eligibility of shareholders for the corporate action.
A record date is the cut-off date established by a company to determine which shareholders are entitled to receive a dividend, bonus issue, rights issue, or other corporate benefits.
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To be eligible, investors must ensure they purchase the shares before the ex-date, which is typically one trading day prior to the record date in India due to the T+1 settlement cycle.
This means that trades executed today will reflect in shareholders' demat accounts by the record date, thereby qualifying them for the bonus shares.
Under the terms of the announced corporate action, VRL Logistics will issue one bonus share for every one share held by eligible shareholders. This essentially doubles the number of shares in the investor's portfolio without any additional cost, although the share price is adjusted proportionally post-issue to maintain the same overall value.
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Bonus issues are often seen as a way for companies to reward shareholders and increase liquidity in the stock, although they do not directly impact the company's valuation.
Investors considering purchasing VRL Logistics shares ahead of this record date should take into account both the potential benefits of the bonus issue and the post-issue share price adjustment.
With this bonus issue, this is the first time in the history of VRL Logistics that the company is distributing free shares to its eligible shareholders.
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