Navratna stock, NMDC Ltd announces record date to issue 2:1 bonus share

State-owned Navratna PSU, NMDC Ltd has announced the record and deemed dates to allot the bonus equity shares in a 2:1 ratio. The shares of the company are trading lower by 2% at Rs 228.25 and have increased by 13.16% in 2024 so far in the BSE Benchmark index.

The Company has received in-principle approval under Regulation 28(1) of SEBI LODR, 2015, from BSE Limited and National Stock Exchange of India Limited vide their letters dated 16th December 2024, for the issue and proposed allotment of 586,12,11,700 Equity shares of Rs 1/- each as bonus shares in the ratio of 2 (two) new equity shares for every 1 (one) existing equity share held in the Company. Further, the Company has fixed Friday, 27th December 2024, as the “Record Date” to determine the eligibility of shareholders for issuance of the said Bonus Shares, as per the regulatory filing made.

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The deemed date of allotment shall be Monday, 30th December 2024, for the allotment of said Bonus Shares of the Company. Further, these Bonus Shares will be made available for trading on the next working date of allotment i.e. Tuesday, 31st December 2024, under SEBI circular dated 16th September 2024, it added.

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