Algoquant Fintech Announces 8:1 Bonus Share Issue, Record Date Set for August 18
Algoquant Fintech has announced an 8:1 bonus share issue, offering eight new shares for every one existing share. The record date is set for August 18, 2023, with shares to be fully paid-up equity shares of Re 1 face value each. Investors must purchase shares by August 17, 2023, to be eligible. Despite the announcement, Algoquant Fintech's shares closed 1.58% lower at Rs 1,376.90. Bemco Hydraulics also announced a 1:1 bonus issue with a record date of August 22, 2023.

*this image is generated using AI for illustrative purposes only.
Algoquant Fintech, a leading player in the financial technology sector, has announced a significant bonus share distribution to reward its shareholders. The company's board has recommended an impressive 8:1 bonus share ratio, meaning shareholders will receive eight new shares for every one existing share held.
Key Details of the Bonus Issue
Detail | Value |
---|---|
Bonus Ratio | 8:1 (8 new shares for every 1 existing share) |
Record Date | August 18, 2023 |
Share Type | Fully paid-up equity shares |
Face Value | Re 1 each |
This bonus issue is subject to shareholder approval, highlighting the company's commitment to creating value for its investors.
Implications for Investors
Under India's T+1 settlement cycle, investors must purchase Algoquant Fintech shares at least one trading day before the record date to be eligible for the bonus shares. This means interested investors should complete their purchases by August 17, 2023, to qualify for the bonus issue.
Market Response
Despite the announcement of the bonus issue, Algoquant Fintech's shares closed 1.58% lower at Rs 1,376.90 on the day of the announcement. This performance was below the broader market, as the BSE Sensex advanced 0.07% on the same day.
Industry Context
Interestingly, Algoquant Fintech is not the only company announcing a bonus issue. Bemco Hydraulics , another listed entity, has also declared a bonus share distribution, albeit with a different ratio:
Company | Bonus Ratio | Record Date |
---|---|---|
Bemco Hydraulics | 1:1 | August 22, 2023 |
Bemco Hydraulics shares also experienced a decline, closing 5% lower at Rs 2,833.20 on the day of the announcement.
Conclusion
The announcement of the bonus share issue by Algoquant Fintech represents a significant move to reward its shareholders. While the market's immediate reaction was subdued, the long-term impact of this corporate action on shareholder value remains to be seen. Investors should keep a close watch on the company's performance and any further announcements leading up to the record date.
Historical Stock Returns for Bemco Hydraulics
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-5.00% | -14.67% | -5.42% | +33.42% | +73.83% | +3,634.82% |