OIL INDIA BONUS RECORD DATE: LAST CHANCE TO GET FREE SHARES; EX-DATE ON JULY 2

Oil India Bonus Record Date: Shares of the state-owned Oil India is set to trade ex-date for its bonus issue next week on Tuesday, July 2.

"The Board has fixed Tuesday, 02nd July, 2024 as Record Date to determine the eligibility of shareholders to receive bonus shares," the PSU's exchange filing stated. The record date is the cut-off date fixed by the company. All shareholders on the day of record date become eligible to receive bonus shares.

Investors having shares of Oil India before its ex-date and record date will be eligible for the bonus issue. This means, investors have just Monday, July 1 to get on record of the company's books in order to be eligible for the bonus issue.

Oil India Bonus Ratio

Oil India's Board had earlier in May recommended the issuance of bonus shares in the ratio 2:1, which means shareholders will get one additional share for every two stocks held.

"...the Board has recommended issue of Bonus Shares in the ratio of 1:2 i.e. 01 (one) equity share of Rs. 10/- each for every 02 (Two) existing equity shares of Rs. 10/- each fully paid up subject to the approval of shareholders through Postal Ballot [E-Voting]," the PSU stated in its stock exchange filing.

The total paid up share capital of the company will increase to Rs 1,626.61 crore from Rs 1,084.41 crore, pre-Bonus.

Free reserves and/or share premium required for implementing the bonus issue is Rs 542 crore. Free reserves and/or share premium available for capitalisation and the date as on which such balance is available is Rs 33,832.92 crore as on March 31, 2024, the PSU said in a filing.

Oil India Bonus Credit Date

Oil India will credit the bonus shares on or July 18, 2024.

"Estimated date by which such bonus shares would be credited/dispatched; On or before 18th July, 2024," said the company.

Oil India Share Price

Shares of Oil India surged to a new 52-week high on Friday, July 28, jumping over 2 per cent, just ahead of the ex-date of its bonus issue.

A combined total of 6,876,816 shares were traded on the BSE and NSE, with 2,003,475 shares, representing 29.1%, marked for delivery.

Oil India Share Price History

Oil India is a constituent of BSE 200 and boasts a market cap of Rs 78,375.39 crore. Its shares have turned nearly triple in value in just about an year, rising 197.67 per cent in the said period. So far in 2024, the PSU stock delivered a return of 91 per cent.

Over a longer time frame, three years, it yielded a return of 346 per cent.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-06-29T12:23:20Z dg43tfdfdgfd