IGL shares begin trading ex-bonus today
Indraprastha Gas Ltd (IGL) shares began trading on an ex-bonus basis, priced at Rs 199.20 as of 9:50 AM today.
“This follows our previous letters dated December 10, 2024, and January 16, 2025, notifying shareholders of the approval for the issuance of bonus shares in a 1:1 ratio. We would like to inform that the Bonus Issue Committee has fixed Friday, January 31, 2025, as the 'Record Date' to determine shareholder eligibility for the bonus,” the company had announced in an earlier exchange filing.
Additionally, the company will allocate the bonus shares to eligible shareholders on February 3.
The purpose of the record date set by a company is to determine the shareholders eligible for offers such as buybacks, bonus issues, or stock splits, requiring shares to be held in a Demat account on that date.
To qualify, investors must purchase the stock at least one day before the ex-date, as settlements are processed the next day. Those who buy shares on the ex-date will not be eligible for dividends, stock splits, bonus issues, or similar benefits.
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