National Mineral Development Corporation (NMDC) has announced 2:1 bonus shares. NMDC is a Navratna Public Sector Enterprise under Ministry of Steel, Government Of India. After the announcement NMDC’s shares closed Wednesday’s trading session 5.96% down at Rs 213.95 a share.
NMDC: What Did The Filing Say?
In a filing, NMDC wrote, “The Company has fixed Friday, 27th December 2024 as the “Record Date” for the purpose of determining the eligibility of members for Bonus Equity Shares in the proportion of 2:1 i.e. 2 (Two) new bonus equity shares of face value of 1/- each fully paid-up, for every 1 (One) existing fully paid-up equity share of face value of 1/- each.” NMDC said in a filing
The bonus shares will be allocated to shareholders whose names appear in the company’s register on the Record Date, as per NMDC’s rules. The allotment of shares has to follow the SEBI (ICDR) Regulations and Listing Regulations. Bonus shares will only be issued in dematerialized or demat form.
Shareholders holding shares in demat form will have their bonus shares credited to their accounts, while those with physical shares will have them moved to a ‘Suspense Account’, specially opened for this purpose. All actions have to comply with the timeframes and guidelines set by SEBI and relevant authorities.
NMDC Financials
Below are NMDC financials for September 2024, as compared to 2023.
Revenue: 4.92KCr, up by 22.54 per cent
Net income: 1.21KCr, up by 18.06 per cent
Net profit margin: 24.63%, down by 3.68 per cent
Operating income: 2.43KCr, up by 27.09 per cent
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