Oil India's 1:2 Bonus Shares: Know Key Details And Deadlines
oil india's 1:2 bonus issue: know key details and deadlines
Oil India (OIL) has designated July 2 as the record date for its 1:2 bonus share issuance. Today marks the last opportunity for investors to purchase shares to qualify for the bonus distribution.
In May, OIL announced the issuance of bonus shares to eligible shareholders in a 1:2 ratio, meaning shareholders will receive one bonus share for every two shares held. This move aims to reward shareholders and enhance the company's stock liquidity.
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During the announcement of its fourth-quarter results for the financial year 2024, OIL revealed the need for Rs 542.20 crore from its free reserves/share premium to facilitate the bonus issue. The bonus shares are scheduled to be credited to shareholders' demat accounts on or before July 18, as per a prior exchange filing.
OIL's paid-up share capital stands at Rs 1,084.41 crore pre-bonus. Following the bonus share issuance, this figure will rise to Rs 1,626.61 crore, reflecting the company's commitment to increasing shareholder value and its strong financial health.
This strategic move underscores OIL's robust performance and shareholder-centric approach, ensuring that investors benefit from the company's growth trajectory. The bonus share issuance is anticipated to further solidify investor confidence and drive long-term value creation for all stakeholders.
At the time of filing, the shares of Oil India were trading at Rs 485.80, 2.06 per cent up from the 2.06 per cent up from the previous trading's day session. The 52 week high and low of the share is Rs 510.95 and Rs 162.48 respectively.
According to the BSE analytics, the shares have given massive returns of 197.64 per cent in the last 1 year.
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