Bonus Issue 5:7: Record Date Revised By This Penny Stock; Buy The Stock Under Rs 50?

Founded in 2004 as a private company, R M Drip & Sprinklers Systems Ltd. is a publicly traded manufacturer located in Nashik that specializes in micro-irrigation solutions, such as pipes, sprinklers, and drip systems. For its upcoming corporate action in the form of bonus issue, the corporation has announced a new record date.

R M Drip & Sprinklers Systems Bonus Shares Record Date

"The revised Record Date for determining the entitlement of members to receive the aforesaid Bonus Equity Shares shall be 10th April 2026 (T Day). The deemed date of allotment of the Bonus Equity Shares shall be the next working day following the Record Date, i.e., 13th April 2026," confirmed R M Drip & Sprinklers Systems in a stock exchange filing.

Earlier, the record date for determining the entitlement of members to receive the bonus equity shares was 07th April 2026.

R M Drip & Sprinklers Systems Bonus Issue

The Board of Directors "Approved the issuance of bonus equity shares in the ratio of 5:7, i.e., 5 (Five) new fully paid-up Equity Shares of Rs.1/- (Rupee One only) each for every 7 (Seven) existing fully paid-up Equity Shares of Rs.1/- (Rupee One only) each, held by the Members of the Company as on the Record Date (mentioned below), subject to approval of the Members through Postal Ballot and receipt of requisite statutory and regulatory approvals, as applicable," R M Drip & Sprinklers had informed to stock exchanges on 28th February 2026.

The firm has declared that it would issue 17,84,28,571 equity shares as bonus issue, each valued at Re. 1, for a total of Rs. 17,84,28,571. Retained earnings and free reserves would be used to fund the bonus share issue in the sum of Rs. 17,84,28,571. Within two months after the Board of Directors' approval date, the corporation expects the bonus shares to be credited by April 27, 2026.

R M Drip & Sprinklers Systems Target Price

"R M Drip stock price is bearish and oversold with next support at 33.7 on the Daily charts. Investors should buy only if Daily close is above resistance of 44.24 could lead to a target of 57 in the near term," commented A R Ramachandran, part-time SEBI-registered Research Analyst, Tips2trades.

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