In case of non-receipt of the IPO refund order/share certificate/allotment advise, what is the course of action available to the investor?
In case of non-receipt of the IPO refund order/share certificate/allotment advise, what is the course of action available to the investor?
The investor should complain in writing to the lead manger/registrar/Sebi’s Investor Grievance Cell.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
The Nakoda Textile Industries Ltd had stated as follows.
“Nakoda Textile Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 04, 2010 have fixed January 25, 2010 as RECORD DATE for Sub-division of equity shares of the Company of Rs. 10/- each into 2 (two) equity shares of 5/- each and issue of Bonus shares in the ratio of 1:1 i.e. one new fully paid up equity share of Rs. 5/- each for every one fully paid up equity share of Rs. 5/- each held as on record date.”
As per the above info, I had bought 200 shares of Nakoda Textile Industries Ltd at the rate of Rs.63 per share before record date and after approval of split and bonus, 800 shares have been credited to my Demat Account at the current market rate of Rs. 13.9 as on 01.02.2010.
As on 29-01-2010, share price was showing at the rate of 29.22 per share in my Demat account but on 01.02.2010 the share price was showing at the rate(market price) of 13.90 per share in my Demat Account on 01.02.2010.
As per the above information and my understanding, Stock split means the net value of the shares remain same but the quantity changes proportionately . Bonus means issue of additional shares at free of cost. Here both quantity and value of the shares will change accordingly.
Hence, Nakoda Textile Industries Ltd share should be trading approximately around Rs 29 or 30 after splitting(record date is 25.01.2010) in the ratio of 1:2 but it was trading at 13.15 on 23.01.2010 ie. the share has been split in the ratio of 1:4 instead of 1:2.
Then my question is what is the difference between stock split and bonus? If there is no difference between stock split and bonus, why the company(Nakoda Textiles), use the term “Bonus”.
Could you please clarify this?.