The book closure date is the date on which a shareholder must hold the stock in their demat account to be eligible for corporate action benefits such as bonus shares, splits, and dividends. During the book closure period, RTAs don't handle adjustments to the shareholder's register or requests to transfer shares.
Did you know? The record date and book closure date are the same in their cut-off requirement for eligibility for corporate action benefits. RTAs don’t process requests to transfer shares during the book closure date, but this restriction doesn’t apply to record dates.