In a round issued on Monday, Sebi enabled T+2 buying and selling of the bonus problem which implies that the shares allotted within the bonus problem will now be out there for buying and selling on the following working date of allotment.
File date is the closing date for shareholders to be eligible for a bonus problem.
The round will likely be relevant to all bonus points introduced after October 1, 2024.
The transfer is with an purpose to streamline the method of bonus problem of fairness shares, the round mentioned, including that any delay in compliance with the stipulated timelines will appeal to penalties. Sebi has additionally laid operational procedures to implement the identical. As per the brand new norms, the corporate proposing a bonus problem ought to apply for the in-principle approval to the inventory trade inside 5 working days from the date of board assembly approving the bonus problem.The issuer whereas fixing and intimating the file date (T day) to the inventory trade may also should tackle file deemed date of allotment on subsequent working date of file date (T+1 day).Upon receipt of intimation of the file date (T Day) and requisite paperwork from the issuer, the inventory trade ought to problem notification accepting the file date and notifying the variety of shares thought of within the bonus problem. The notification also needs to embody the deemed date of allotment.
Following this, the issuer firm must guarantee submission of the requisite paperwork to depositories for credit score of bonus shares within the depository system newest by 12 pm of the following working day of the file date.
The issuer will likely be required to add the distinctive quantity (DN) ranges within the DN database of the depository and inventory trade(s) must guarantee updation of related dates earlier than credit score of bonus shares.
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