29 May 08 JM Financial Bonus Issue & Stock Split
Much to the delight of its shareholders, JM Financial has informed the stock exchanges that the board has approved the bonus issue as well as the stock split. The ratio of JM Financial Bonus Issue has been fixed as 3:2, which is very liberal. This means investors will get 3 bonus shares for every 2 shares that they hold as on the record date for the bonus issue. The stock split ratio has been fixed as 10:1 which means shareholders will get 10 shares of face value Rs. 1 each in lieu of every 1 share of face value Rs. 10 each that they hold as on the record date for the stock split. The record date for the bonus issue as well as the JM Financial stock split will be announced in the coming few weeks and will be updated over here.
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