Ashok Leyland Ltd. sets July 16 as the record date for a 1:1 bonus share issue, with investors needing to hold shares in their demat account by that date to be eligible.
Under India's T+1 settlement cycle, shares must be purchased at least one trading day before the record date for eligibility in the bonus issue.
The deemed date of allotment for Ashok Leyland bonus shares is July 17, with trading availability starting on July 18.
The company's stock closed 2.7% higher on Monday at Rs 252.95 per share, having risen 14% year-to-date and 11% in the last 12 months.