The share price of the Indian highway construction company IRB Infrastructure Developers Limited is rallying. On Monday, the stock soared to ₹22.70, up by nearly 11% from the previous closing price of ₹20.47.
1:1 Bonus Share Issue
IRB Infra soared on Monday, March 30, as investors anticipate its first-ever bonus share issue. A bonus issue is the allotment of additional shares to eligible shareholders based on their holdings at no direct cost to them.
In February, the company approved a bonus issue in the ratio of 1:1. This entitles qualified shareholders to receive one additional share for every share they hold as of the record date, which was set on Wednesday, April 1.
“[W]e wish to inform that the shareholders of the Company has through Postal Ballot, on March 23, 2026, inter-alia approved the issuance of Bonus Equity Shares in the proportion of 1 (one) new equity share of Re.1/- each for every 1(one) existing equity share of Re.1/- each fully paid up,” the company stated in a regulatory filing.
“[T]he Company has fixed Wednesday, April 1, 2026, as the “Record Date” for the purpose of determining the shareholders eligible for issuance and allotment of Bonus equity shares…the deemed date of allotment of the bonus equity shares shall be next working day, i.e. Thursday, April 2, 2026. The said Bonus equity shares will be made available for trading on the next working date from the deemed date of allotment.”
Ex-Date and Record Date
Investors need to purchase the shares before the ex-date to get qualified for the bonus issue announced by the company. Shares bought on or after the ex-date are not qualified to avail of the benefit.
India follows the T+1 rolling settlement system so the ex-date is one business day before the record date. This means that Monday is the final trading session for investors to buy stocks to qualify for the additional shares that will be distributed by the company. The shares need to be credited to their account by the record date.
Source: https://coinpaper.com/15827/irb-infra-rallies-11on-last-day-to-buy-stock-for-1-1-share-bonus-issue
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