Hypothetically
If Sbi decides that 5th June is the “record date” for purpose of issue of bonus shares issue"
then if I’m holding sbi shares on 5th june, and sell on 6th June.
EVen though I don’t have ANY holding of SBI shares, will I still be issued bonus shares, since I was holding shares on the record date?
Yes, you will get the bonus shares. But you need to remember that on the ex-date when you sell the value of shares would have dropped. Bonus doesn’t really materially make any difference at all, bonus/split is a way to make single stock price lesser so liquidity increases.
For example, stock X, you have 10 shares bought at 100. On April 1st, the record date for a 1:1 bonus, you are holding the shares. The next date when you sell, stock price in the market would have automatically dropped to 50. So essentially instead of having 10 shares at 100, you will have 20 shares at 50. Makes no difference.