The Securities and Exchange Board of India (Sebi) reduced the time taken for credit of bonus shares and trading of such shares from the record date of the bonus issue. In a press release, the market regulator listed out the operational procedure for the same. 1. The issuer proposing a bonus issue shall apply for the in-principle approval to the stock exchange within 5 working days from the date of board meeting approving the Bonus issue. 2. The issuer while fixing and intimating the record date (T day) to the stock exchange for the proposed bonus issue, shall also take on record deemed date of allotment on next working date of record date (T+1 day). 3. Upon receipt of intimation of the record date (T Day) and requisite documents from the Issuer, the stock exchange shall issue notification accepting the record date and notifying the number of shares considered in the bonus issue. The notification shall include the deemed date of allotment (T+1 day).