Markets regulator Sebi on Monday proposed a uniform timeline to ensure timely credit and trading of bonus shares in a bid to streamline the process to enable T+2 trading of such shares after the record date. The current ICDR (Issue of Capital and Disclosure Requirements) rules prescribe overall timelines regarding implementation of the bonus issue, however, there are no specific timeline on credit of bonus shares and trading of such shares, from the record date of the issue. "Thus, absence of any specific guidelines on this aspect leads to non-uniformity with respect to timelines in which shares are credited and made available for trading in bonus issue," Sebi said in its consultation paper. Currently, after a bonus issue, existing shares continue to trade under the same ISIN, and the new bonus shares are credited and available for trading within 2-7 working days post record date. Therefore, to have uniformity in timelines for credit and trading of bonus shares, it is imperative th