Bonus shares in 2023

A bonus issue turns a company's accumulated reserves into new shares and hands them to existing shareholders without payment. A 1 for 1 bonus gives one new share for each share held. The price then adjusts down in proportion to the larger share count.

The page includes every bonus issue whose ex-date fell in 2023, grouped by month with the latest ex-date first. Each company's row gives the ratio, record date, ex-date, current price with the day's change, and market cap. Power Grid Corporation of India gave 1 for 3 in Sep 2023, as it had in 2021.

The record date is the day the company checks its register to see who is entitled to the bonus. The ex-date is the first day the share trades without that entitlement. Since trades settle on the next trading day (T+1, in force on all equity shares since 27 Jan 2023), the ex-date and the record date are normally the same day; most rows that differ have a record date on a Saturday.

SEBI's issue of capital regulations allow a bonus only out of free reserves, the securities premium account or the capital redemption reserve, never out of revaluation reserves, and the premium counts only where it was collected in cash. The company's articles must permit it, and all existing partly paid shares must be made fully paid first. Once announced, a bonus cannot be withdrawn. It must be completed within 15 days of the board's approval, or within two months where shareholders also have to approve it.

Both raise the number of shares and lower the price per share. A split divides each share's face value, for example from ₹10 to ₹2, and leaves reserves untouched. A bonus keeps the face value and moves reserves into share capital.