Record date is the date by which the shares must be in your demat account to be eligible for bonus, split or dividend.
In this case, you need to buy shares by May 9, 2023 to be eligible for bonus shares. Since both the exchanges and all stocks have now transitioned to T+1 system, the shares will be credited in your demat by May 10, 2023, making you eligible for bonus shares. This may work even if you buy shares on May 10, 2023, as the shares will get credited by May 11, 2023 but I wouldn’t risk it.
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