Update: SEBI has suspended trading in Bharat Global Developers Ltd (BGDL) for financial misrepresentation and price manipulation, freezing ₹271.6 crore in illegal profits. The company’s management and preferential allottees are barred from the securities market. Trading remains suspended until further notice.
Bharat Global Developers Limited (BGDL) has announced both a stock split and a bonus issue for its shareholders. You can check the announcement from the company here.
Stock Split Details:
- Company: Bharat Global Developers Limited (BGDL)
- Stock Split Ratio: 10:1 (Each existing share of ₹10 will be subdivided into 10 shares of ₹1 each)
- Record Date: December 26, 2024
- Ex-Date: December 26, 2024
- Pre-Ex Date: December 24, 2024
Bonus Issue Details:
- Bonus Issue Ratio: 8:10 (Shareholders will receive 8 additional share for every share held)
- Record Date: December 26, 2024
- Ex-Date: December 26, 2024
- Pre-Ex Date: December 24, 2024
What Does This Mean for BGDL Shareholders?
Stock Split:
- Stock Split Ratio: 10:1
- Your existing 1 share of ₹1235 will be subdivided into 10 shares of ₹123.50 each (approx).
- Example: If you hold 100 shares at ₹1235 each, your holdings will increase to 1000 shares, with the total value unchanged at ₹1,23,500.
Bonus Issue:
- Bonus Issue Ratio: 8:10
- After the stock split, for every 10 shares you hold, you will receive 8 bonus shares.
- The stock price after both the split and bonus issue will be ₹68.61 per share (approx), but your total investment value remains ₹1,23,500.
Who is eligible for the Split and Bonus Issue?
- To qualify for both the stock split and bonus issue, shareholders must hold shares of BGDL on or before the cum-date (December 24, 2024).
- The record date for both actions is December 26, 2024.
When will the split and bonus shares reflect in my demat account?
- Stock Split: The split shares will be credited to your demat account within 2-3 working days from the record date (December 26, 2024). During this period, the shares may not be visible in your holdings. The P&L may show a temporary decrease in profits or increase in losses until the new shares are credited. This will be adjusted once the shares are updated.
- Bonus Shares: The bonus shares are credited to your demat account within T+2 days from the record date (December 26, 2024). Initially, they may appear under a temporary ISIN on Console and will take an additional 4-5 working days to be assigned a permanent ISIN. Once assigned, the shares will reflect in Kite and be available for trading.
Can I sell my shares before the split or bonus shares are credited?
- Before Split Shares are credited: Yes, you can sell your shares before the split shares are credited to your demat account. The shares sold will be adjusted for the stock split, and the remaining split shares will be credited to your account within 2-3 working days after the record date. There will be no impact on your P&L.
- Before Bonus Shares are credited: Yes, you can sell your shares normally before the bonus shares are credited. This will not affect your trades or your P&L, as the bonus shares will be allotted based on your holdings as of the record date (December 20, 2024). The bonus shares will be credited within 2 trading days.