SEBI's T+2 rolling settlement cycle is applicable in the context of which of the following corporate actions?

SEBI introduced a T+2 settlement timeline specifically for Bonus Issues through a circular dated September 16, 2024, effective from October 1, 2024. Under this framework, when a company sets a record date (T) for a bonus issue, the deemed allotment date is T+1, and the bonus shares become available for trading on T+2. This was introduced to reduce the earlier gap of 2–7 working days. Rights Issues, IPOs, FPOs, and Preferential Allotments are governed by separate SEBI regulatory frameworks involving allotment, listing approval, and demat credit processes these are not covered under this T+2 settlement circular. The T+2 framework for corporate actions therefore specifically and correctly applies to Bonus Issues.