I have seen mutiple companies which increase equity base by way of bonus/split to improve trading. On specific reason could be to get listed on NSE also, which is more liquid than BSE. Now, it is possible that same can also be achieved by bonus issue. However, the companies which are very old (like Sandur which registered in 1954), the bonus shareholder would also get in hand of inactive/deceased shareholders and hence may not result in improve liquidity. That could explain Right at such terms (2 share of 1 share held at price of Rs 10 per share). I am personally director in company which is registered in 19th century and faced that issue. So at times, what appear as unfair treatment to minority shareholder, may not be necessary be the case. I may be wrong in my assessment, but just wanted to present another perspective.
Last but not least, the shareholder who are not following up their investment need to really careful. After seven years of non-receipt of dividend, shares would get transferred to IEPF and as per new SEBI act, shareholders who have not provided KYC details to companies/RTA by 30 September, their shareholding would be frozen. More details are enclosed in case anyone interested. https://www.sebi.gov.in/legal/circulars/mar-2023/common-and-simplified-norms-for-processing-investor-s-service-requests-by-rtas-and-norms-for-furnishing-pan-kyc-details-and-nomination_69105.html
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