3 days Ago By Neha Aravind
Top corporate actions to watch this week — December 30 to January 3 — include ITC Ltd.'s demerger of its hotels business, KPI Green Energy Ltd.'s 1:2 bonus issue, and key updates from RedTape, Surya Roshni Ltd.
, and Steel Exchange India Ltd. Investors should take note of crucial record dates and deadlines to ensure eligibility for dividends, bonuses, and other corporate benefits. The demerger of ITC Hotels Ltd.
from cigarette maker ITC will take effect on Jan. 1, 2025. The stock will go ex-demerger on Jan.
6, which is also the record date for the demerger. Investors who want to receive shares of ITC Hotels must ensure they have ITC shares in their demat account on Jan. 6.
Therefore, the last day to buy ITC shares to be eligible for ITC Hotel shares is Jan. 3. KPI Green Energy has set Jan.
3 as the record date to determine shareholder eligibility for its bonus issue in a 1:2 ratio. This means shareholders will receive one bonus equity share for every two existing equity shares, subject to shareholder approval through postal ballot. Investors must own KPI Green Energy shares by Jan.
3 to qualify for the bonus issue. Steel Exchange India has scheduled an extraordinary general meeting to seek approval for issuing securities worth up to Rs 600 crore through a qualified institutional placement. Additionally, the company will appoint Subbarao Venkata Munnang as a non-executive independent director.
The Board of directors of RedTape has declared an interim dividend of Rs 2 per equity share of face value of Rs 2 for fiscal 2025. The record date for determining shareholders' eligibility for the dividend is Jan. 3.
Investors must purchase RedTape shares by Jan. 3 to qualify for the interim dividend payout. Surya Roshni has announced a bonus issue in a 1:1 ratio, with one new equity share issued for every existing equity share.
The deemed date of allotment is Jan. 2, and the effective listing date is Jan. 3.
Shareholders must hold shares on Jan. 2 to qualify for the bonus allotment..
