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Upcoming Bonus Shares in November 2023

03 Nov 2023

Introduction:

In the corporate world, issuing bonus shares is a common practice for companies to reward their existing stakeholders. These shares are distributed to their existing shareholders at no existing cost, helping them to increase their ownership stake without making fresh investments.

In November 2023, several listed Indian companies announced their decisions to issue bonus shares as a strategic move to bolster investors’ confidence, reward their existing shareholders without straining cash reserves, and increase liquidity in their stocks.

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Investing in these companies before the record date provides you a chance to not only receive additional shares for free but also grow your investment’s value over time. In this article, you will find a list of upcoming bonus shares in November 2023 for investing.

Upcoming bonus shares in November 2023

As of 31 October 2023, three prominent companies have announced bonus shares with record dates in November 2023. They are as follows:

  • Jeena Seekho Lifecare Limited

The first company on this list of upcoming bonus shares in November 2023 is Jeena Seekho Lifecare Limited. It is a leading Ayurvedic healthcare company offering healthcare products and healthcare services in India. The company holds some popular brands, such as Shuddhi Ayurveda (which provides Ayurvedic remedies for various diseases), Shuddhi Clinics (which offers Ayurvedic treatment for diseases), and HIIMS Hospital.

On 25 September 2023, the company announced a proposal of 4:5 bonus shares with a record date of 2 November 2023. It means the company will issue four shares as a bonus for every five shares held by the shareholders on the record date.

The company has achieved an astonishing growth of 39.7% in its revenue in the Financial Year 2022-23. The company plans to expand its market share through strategic decisions.

  • Giriraj Civil Developers Limited

The second company on this list is Giriraj Civil Developers Limited. It is an India-based construction company known for civil construction of government and semi-government projects. It primarily focuses on building roads, bridges, towers, and infrastructures. The company has several running government projects under its belt across Maharashtra and Gujarat.

On 28 August, the company’s board announced the decision to issue bonus shares for their shareholders in the ratio of 4:1. The record date for the issuance of bonus shares has been set as 3 November 2023. It means that four new shares will be awarded to the existing shareholders against every share they own by the record date.

The company has posted a robust revenue growth of 14.6% for FY 2023. Moving ahead, government initiatives such as the Production-Linked Incentive (PLI) scheme and the Make in India program can benefit the company strongly in the upcoming months.

  • DP Wires Limited

The third company on this list is DP Wires Limited. It is an India-based company engaged in manufacturing and supplying steel wires, plastic pipes, and plastic films. The company's products have applications in several industries, including energy, automobile, power, oil and gas, civil, infrastructure, and others.

The company’s board announced the decision to issue bonus shares in the ratio of 1:7 on 29 September 2023. The record date for issuing bonus shares has been fixed as 8 November 2023. It means that those who own seven company shares by the record date will get one bonus share, and so on.

For FY 23, the company has posted a revenue of Rs. 1,221 crores as against Rs. 616 crores in the preceding financial year.

Other companies to issue bonus shares in November 2023

Apart from the ones mentioned above, a few other companies can also provide bonus shares to their stakeholders in November 2023. However, the official confirmation is yet to be out. The first such company is Sonata Software Limited. Although the board has approved the issuance of bonus share of 1:1, the record date is yet to be announced.

Another such company is IFL Enterprises Limited. The company has proposed both bonus shares and dividends for November 2023, but the final decision is subject to the shareholders' approval through Postal Ballot.

To conclude

Bonus shares can be an attractive investment proposition as they allow you to increase your stakes in a company without making any additional investment. In November 2023, several Indian companies may issue bonus shares, and you can grab the opportunity to grow your investment. However, it’s crucial to conduct thorough research and consult with a financial advisor before making any investment decisions.

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