India :
- Paisalo Digital is proposing to issue bonus shares in the ratio of 1:1, meaning one new bonus equity share of Re. 1/- each will be issued for every one existing share of Re. 1/- each held by the shareholders as of the “Record Date,” which will be determined by the company’s Board for this purpose.
- Board members of the Company has fixed Wednesday, March 20, 2024 as the ‘Record Date
- This bonus issue of equity shares is contingent upon the approval of the shareholders and other necessary statutory and regulatory approvals as may be mandated. Once allotted, the bonus shares will enjoy equal status in all aspects and will possess the same rights as the existing equity shares.
- In simpler terms, for every share an investor currently holds, they will receive an additional share at no cost, effectively doubling their shareholding without any additional investment. This move is often seen as a way for companies to reward their shareholders and boost investor sentiment.
- Estimated date by which such bonus shares would be credited/dispatched : The issuance of bonus shares is contingent upon obtaining shareholder approval as well as other necessary statutory and regulatory approvals. If these approvals are secured, the bonus shares will be credited or dispatched within two months from the date of the Board’s approval, specifically on or before March 31, 2024.