3:1 Bonus Shares: Engineering Co To Reward 3 Bonus Shares On Nov 12, How To Fix Eligibility?

Bajaj Steel Industries Ltd shares are all set to trade ex-bonus in the proportion of 3:1 implying shareholders will receive 3 shares for every 1 share held as on the record date. The stock closed at Rs 3512.20 per share as on November 1, 2024 with gains of 6.62%. The company's market cap stood at Rs 1826.34 crore. The company on October 30, 2024 revised November 12, 2024 as the record date for 3:1 bonus shares.

Bajaj Steel Industries shares offered return of 172% in last 6-months and delivered multibagger returns of 204% so far this year. If you have 1000 shares of the company, you will be rewarded with 3000 shares as on the record date i.e. November 12. More details below:

Bajaj Steel Industries Shares Performance

The 52-week high price of Bajaj Steel Industries Ltd shares on BSE is Rs 3499.75 per share (as on 03/10/2024) and 52-week low price is Rs 1018.00 per share (as on 01/11/2023), respectively. Bajaj Steel Industries shares surged 21% in last 1-week, gained 85% in last 3-months, and offered return of 232% in last 1-year. Bajaj Steel stock rallied 2952% in last 5-years.

How To Be Eligible For Bajaj Steel Bonus Shares

The firm decides through the record date the eligibility of shareholders for receiving bonus share. Companies that decide to distribute bonus shares fix a record date to identify how many current shareholders there are. The firms' bookkeepers cross check the records on the record date to recognize stockholders. When a firm announced the bonus share issue, it also declares an ex-date. The ex-date is the last day to buy the company's shares to become eligible for the bonus issue. If you join the firm post the ex-date, you will not be eligible for bonus shares. T+2 rolling settlement has been used in India that implies the ex-date is two days prior to the record date. The ex-date for Bajaj Steel is November 12, 2024 which is also the record date.

Bajaj Steel Industries Ltd Announces Record Date

According to the BSE filing of Bajaj Steel Industries Ltd issued as on October 29, 2024, "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."

About

Bajaj Steel Industries Limited (BSIL), established in 1961, is a leading global engineering company with a world class infrastructure and manufacturing facilities. Bajaj Steel is engaged in manufacturing of cotton ginning & pressing machinery, cotton seed delinting & decorticating machinery, pre-engineered steel buildings & industrial civil buildings, electrical panels and electrical systems (LT & HT), speciality conveyors, heavy engineering equipment, hydraulic cylinders, power packs and manifolds, power transmission products, industrial fans & impellers, fire-fighting systems, steel safety doors and fire resistance steel doors, machined components as per drawings, industrial fabrications, according to its LinkedIn page.

Disclaimer: The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.