Expect Reliance Power bonus by June 12

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- by Mubin Panjwani

 

"I didn't receive any bonus from Reliance Power . Someone please throw some light on this?"

 

"I have got 16 shares of Reliance Power at the time of the IPO but I have not yet received the bonus shares. The price of the share has gone down by 60%. Anyone, any idea?"

 

These are just a couple of the messages that people have posted on Moneycontrol's message board. If you are in the same plight as these people, worry not. Your bonus will reach you soon.  Moneycontrol spoke to Karvy Computershare Private Ltd, the registrars and share transfer agents of RPL regarding this issue.

Record date

 

The Reliance Power Ltd (RPL) board had fixed June 3 to June 5 as the book closure date for the bonus issue.

 

This means that those shareholders who had bought the shares before the markets closed on or before June 2, 2008 would be eligible to receive the bonus shares. The bonus was issued in ratio 3:5 (three bonus shares for every 5 held).

Why you haven't got your bonus yet?

 

Once the record date is over, it takes at least one week for the entire process of allotment of bonus shares to be completed. Moneycontrol spoke to Karvy Computershare Private Ltd, the registrars and share transfer agents of RPL, and they confirmed, "The bonus shares shall be allotted within another two days. By the June 12 they shall be credited to the shareholders account."