Reliance Power Bonus Issue Allotment Date: Finance Trading Times

Reliance Power Bonus Issue Allotment Date

Hundreds of Reliance Power Share owners are waiting for the Reliance Power Bonus issue.
After the hopeless listing of the Reliance Power Shares, the company had declared bonus shares in the ratio of 5:3, i.e., anyone holding 5 shares of Reliance Power, will be given 3 extra shares as bonus shares without any cost. This allotment will be done only to non-promoters and the promoters will absorb the loss.

Related: Reliance Power IPO Review & Reliance Power IPO Complains & Price Calculations and Adjustments for Bonus issue

Finally, the much awaited news for Reliance Power Bonus issue allotment date has arrived.

As per the news, Reliance Power Limited today announced date of closure of its Register of Members from Tuesday, June 3, 2008 to Thursday, June 5, 2008 for the purpose of determining the entitlement of shareholders to the Bonus shares to be issued by the Company.

As approved by the shareholders of the Company, Reliance Power will issue Bonus shares in the ratio of three new equity shares of Rs 10 each for every five existing equity shares of Rs 10 each held, to the public shareholders of the Company.

The bonus shares will be issued to those shareholders whose names appear in the Register of Members as at the end of the close of business hours on Monday, June 2, 2008.

And what have the Reliance Power management done with the money raised through the Reliance Power IPO? They have invested it into Mutual funds. Interesting!

Still more than a month to go….don’t expect any miracles and sudden jump in prices.
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