Bonus Shares: This NBFC allocates 98 crore fully paid-up bonus shares - Details

The board of directors of Standard Capital Markets Ltd, a non-banking financial company (NBFC), has alloted over 98 crore fully paid-up bonus equity shares to eligible investors. The company has shared these details in an exchange filing. This comes soon after the company announced a sub-division of shares.

"The Board of Director of the Company at their meeting held today i.e., January 02, 2024, has allotted 98,00,02,000 fully paid-up Bonus Equity Shares of Re. 1/- each in the ratio 2:1 i.e., Two (2) Equity Share of Re. 1/- each for every One (1) Equity Share of Re. 1/- each held by the shareholders of the Company," the company said in an exchange filing. 

The company had already announced the record date for this purpose. It had fixed December 29 as the record date to decide the eligibility of shareholders.

The record date is the day on which a company finalises the list of shareholders eligible for its forthcoming dividend distribution and other such corporate action. 

Earlier, the company decided to split the stock in the ratio of 10:1 i.e. each equity share was sub-divided into 10 shares.