March 17, 2017

Temporary Share Markets Functioning Near Company Offices

Old Timers recall when Companies like  Mafatlal Fine Spinning and Weaving Co. Limited ( now merged Rs.100 paid ) and Mafatlal Industries ( Rd.125 paid )used to issue Bonus Shares ( all shares were in Physical then ) and for Fractions such Companies would issue Fractional Bonus Shares which were BEARER ( transferable by delivery ).

Time was given to the holders of such  Fractional Shares to acquire balance fractions and then submit the consolidated fractions to the Company for issue of complete Share Certificates.

Investors would gather ( especially during Lunch time ) near Mafatlal Fine Spinning's Office at Nariman Point , Mumbai. It took the shape of a lively and friendly  mini Stock Exchange .  Bhel Puri Walahs / Narial Paani Walahs , also put their stalls nearby. 

Investors would buy / sell Fractional Shares. Spot Delivery / Payment.

After completing the Number of Fractions to complete Shares,  Investors would fill one Form ( Forms  Printed on the Reverse of the Fractional Shares ) , go up to the office of the Company  and deposit the consolidated Fractions ( Receipt printed at the bottom of the Form .)

The normal Share  Certificate/s  were despatched by the Company by Post.