As per the corporate filings, the company will issue one fully paid-up bonus equity share of face value Rs 10 for every one existing fully paid-up equity share of Rs 10 held by shareholders as on the record date.
The issuance will be made to those whose names appear in the Register of Members or are listed as beneficial owners in the records of the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) on December 19.
This move followed the board’s resolution passed earlier, where the proposal for issuing bonus shares in the ratio of 1:1 was approved, subject to applicable statutory and regulatory conditions.
The company later announced through a circular that the record date for determining eligibility would be December 19.
The company had also announced that the deemed date of allotment of the bonus shares is set as Monday, December 22.
With the T+1 settlement system in place for Indian equities, December 19 will also be the ex-date for this bonus issue. Therefore, only those shareholders who purchase shares of Dr. Lal PathLabs on or before today, December 18, will be eligible to receive the bonus shares under the 1:1 issuance plan.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
