What is a No Delivery/ Book Closure/ Records Date?
The Exchange sets a no-delivery period for a security in which the company has announced a record date/ book closure. During this period, trading is permitted in that security. However, these trades are settled only after the no-delivery period is over. This is done to ensure that the investor’s entitlement for corporate benefits is clearly determined. Book Closure is a period announced by a company for taking stock of its shareholders prior to an Annual General Meeting. Record Date is the date on which you must be registered as a shareholder of a company in order to receive a corporate benefit.
