Consecutive Investment & Trading Company Ltd (CITL) 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: Consecutive Investment & Trading Company Ltd (CITL)
- Stock Split Ratio: 10:1 (Each existing share of ₹10 will be subdivided into 10 shares of ₹1 each)
- Record Date: December 06, 2024
- Ex-Date: December 06, 2024
- Pre-Ex Date: December 05, 2024
Bonus Issue Details:
- Bonus Issue Ratio: 1:1 (Shareholders will receive one additional share for every share held)
- Record Date: December 06, 2024
- Ex-Date: December 06, 2024
- Pre-Ex Date: December 05, 2024
What Does This Mean for CITL Shareholders?
Stock Split:
- Stock Split Ratio: 10:1
- Your existing 1 share of ₹84.64 will be subdivided into 10 shares of ₹8.46 each (approx).
- Example: If you hold 100 shares, your holdings will increase to 1,000 shares, with the total value unchanged at ₹8,464.
Bonus Issue:
- Bonus Issue Ratio: 1:1
- After the stock split, for every 1,000 shares you hold, you will receive 1,000 bonus shares, doubling your total holdings to 2,000 shares.
- The stock price after both the split and bonus issue will be ₹4.23 per share (approx), but your total investment value remains ₹8,464.
Who is eligible for the Split and Bonus Issue?
- To qualify for both the stock split and bonus issue, shareholders must hold shares of CITL on or before the cum-date (December 05, 2024).
- The record date for both actions is December 06, 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 06, 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 06, 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 06, 2024). The bonus shares will be credited within 2 trading days.