“This is in furtherance of our letters dated October 14, 2024 and November 15, 2024, informing the decision of the board of directors and the members of the Company, respectively, for approval of bonus issue of equity shares in the ratio of 1:3,” the company had informed via a filing to the exchanges.
Therefore, 1 share of the face value of Re 1 will be issued to the shareholders for every 3 existing shares held by them.
This means today is the last day to buy the shares of the company to be eligible for the said bonus issue as after the implementation of the T+1 settlement system, the record date and ex-date are typically the same, except when a market holiday follows the ex-date.
Shareholders who buy the stock at least one day before the ex-date are eligible for the bonus shares as settlement happens the next day. Those buying the stock on the ex-date are not eligible for the same.
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According to the data available on Trendlyne, this is the second instance of the company issuing bonus shares. Prior to this, the company had issued bonus shares in the ratio of 1:1 in August 2024.
The shares of Rajoo Engineers have given returns of 331.43% in the last one year and 237.92% in the current year so far.
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