Life Insurance Corporation of India (LIC) has fixed May 29 (Friday) as the record date for its first-ever bonus issue in the ratio of 1:1, effectively making today the last date for interested investors to buy the shares of the state-run insurance behemoth to be eligible for the bonus shares.
Only those shareholders who own LIC shares in their demat accounts as on Friday will be eligible to receive the bonus shares. Due to SEBI's T+1 settlement norm, investors must buy the company's shares at least one trading day before the record date to ensure they are credited to their demat accounts by that date and thus be eligible for the corporate action.