1:1 Bonus Shares: Monday, 30th December Record Date; Buy To Maximize Gains?

 Founded as a private limited company in 1961, Banco Products (India) Ltd. is a market leader in engine cooling and sealing systems for both industrial and automotive use. Radiators, charge air coolers, oil coolers (transmission and hydraulic), fuel coolers, battery coolers, inverter coolers, expansion tanks, fan motor assembly, fan shroud and guard and various mounting and plumbing accessories are among the products offered for engine cooling systems by Banco Products (India). In 1987, the company went public on the Indian stock market.


"This is further to our letters dated 13th November, 2024 and 20th December, 2024 intimating the decision of the Board of Directors and the Members of the Company, respectively, for approval to issue Bonus Shares in the ratio of 1:1 and pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024, we wish to inform that the Company has fixed Monday, 30th December, 2024 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company," said Banco Products (India) in a stock exchange filing.

"The Board of Directors at its meeting held on 13th November, 2024, has recommended issue of bonus equity shares of Rs 2/- (Rupees Two only) each credited as fully paid-up to eligible members of the Company in the proportion of 1:1 i.e., 1 (One) new fully paid up equity share of Rs 2/- (Rupees Two only) each for every 1 (One) existing fully paid-up equity share of Rs 2/- (Rupees Two only) each by capitalizing a sum not exceeding Rs 14,30,37,300 (Rupees Fourteen Crore Thirty Lakh Thirty-Seven Thousand and Three Hundred only) out of securities premium account and balance from the general reserves of the Company, as may be considered appropriate," Banco Products (India) further added in the stock exchange filing.

Banco Products (India) Bonus Shares Allotment

"The new equity shares to be allotted pursuant to the bonus issue shall be allotted in dematerialised form only and shall be credited to the respective beneficiary accounts of the members with their respective Depository Participant(s) with respect to the members holding equity shares in physical form, the Company shall credit the bonus equity shares to a new Demat Escrow Suspense Account to hold these shares till they are credited to the beneficiary accounts of the respective members holding equity shares in physical form," Banco Products (India) informed stock exchanges.

"Accordingly, members holding shares in physical form are requested to provide such information and details as may be required, relating to his / her / its demat account with a depository participant, to the Company / its Registrar and Transfer Agent on or before Record Date (to be intimated separately) to enable it to issue the bonus equity shares in dematerialised form. With respect to the bonus shares of members holding equity shares in physical form who have not provided their demat account details to the Company, the said bonus shares shall be credited in dematerialised form to a new Demat Escrow Suspense Account till they are credited to the beneficiary accounts of the respective members holding equity shares in physical form. The voting rights on the bonus equity shares held in the demat suspense account shall remain frozen,"

Banco Products (India) said in a regulatory filing.

"Banco Products stock price is bearish on the Daily charts with strong resistance at 1054. A Daily close below support of 955 could lead to a target of 864 in the near term," recommended A R Ramachandran, Independent Research Analyst.




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