Bonus Shares issue: What happens to fractional shares?

I had 22 stocks of Astral Poly Technik Ltd., and the company recently issued 1:3 bonus shares, i.e. they issued 1 bonus share for every 3 shares held by the shareholder as of the record date. Since I have 22 shares, I received 7 bonus shares. My question is what happens to the 0.33 share for the additional one share I had (22 - 21 = 1 share)?

Ideally shouldn’t the company issue cash equivalent of 0.33 shares (with share value as of the date of bonus share issue)? How do best manage this as an investor?

Yes, you’ll receive credit for fractional entitlement into your bank account. You can check this announcement from the company for more information.

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Thanks Shubham! This is super helpful.

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