Maharatna CPSE Sets Record Date For 1:4 Bonus Shares: Do You Own?

A large-cap Maharatna CPSE operating in the financial services industry is Power Finance Corporation (PFC). Power Finance Corporation Ltd., a Schedule-A Maharatna CPSE that was established on July 16th, 1986, is one of the leading non-banking financial institutions in the nation. Market watchers can take into account the company's finalised record date of September 21, 2023, for the purpose of the 1:4 bonus shares.

"Pursuant to SEBI (JCDR) (Second Amendment) Regulations, 2023 effective from 23.05.2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible members of the Company holding equity shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of bonus equity shares in their respective beneficiary accounts. In case, shares of the Company are held in physical form as on the Record Date, the bonus equity shares so entitled, shall be transferred to the Suspense Account opened by the Company in this regard," said PFC in a stock exchange filing.

For the purpose of a 1:4 bonus issue of one ( 1) Equity Share of Rs. 10/- each fully paid-up for every Four ( 4) existing equity shares of Rs. 10/- each fully paid-up, September 21, 2023 has been finalized as record date.

On Thursday, the shares of Power Finance Corporation (PFC) closed on the BSE at Rs 257.50 apiece down by 1.74% from the previous close of Rs 262.05. The stock made a 52-week-high of Rs 277.20 on (22/08/2023) and a 52-week-low of Rs 100.85 on (17/10/2022). During Q1FY24, the company recorded promoters shareholding of 55.99%, FIIs stake of 17.49%, DIIs stake of 18.10% and public stake of 8.42%.