Will I be eligible for the benefits of corporate actions in stocks that I have sold on the ex-date?
To be eligible for Corporate actions (dividend, bonus, splits, buybacks, mergers, amalgamation etc.) the shares must be in your name on the record date.
This means that, if you sell stocks on the ex-date you are eligible for the benefits of the corporate action. However, on the record date, since the shares will still be lying in our pool Demat account (as settlement takes 2 days to complete). So, the benefits of the corporate action will be given to us which we will pass on to you.
1. Dividends will be credited to our bank account, which we will credit to your trading account.
2. Shares from Bonus', Splits, Mergers & Acquisition will be credited to our pool account, which we will transfer to your trading account. If the bonus or split ratio is uneven, cash settlement will be done. For example, if the ratio is 2:3, and you have 25 shares, you'll get 72 shares and the balance in cash.
Note: You will not be eligible to participate in buyback/takeovers if you have sold shares on the ex-date.