NEW DELHI: Ashok Leyland shares saw a sharp 51% drop on Wednesday, falling from Rs 250.85 to Rs 123.95, potentially causing concern amongst investors.However, the decline is not due to a market crash but a technical adjustment following the company’s 1:1 bonus share issue that took effect the same day, ET reported.The stock began trading ex-bonus on July 16, after the company announced one bonus share for every existing share, effectively doubling the share count while keeping the overall value of investor holdings unchanged.July 16 was established as the record date for the bonus issue, ensuring that investors holding shares at Tuesday’s market close would qualify for the additional shares.The shares, which had settled at Rs 250.85 on Tuesday, July 15, initiated trading at Rs 123.95 on Wednesday morning, reflecting a 50.6% reduction aligned with the bonus adjustment.“This is further to our intimation dated July 7, 2025, informing the Shareholders approval for issue of Bonus Shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Shares of Rs 1/- each for every 1 (One) existing fully paid-up Equity Share of the Company,” the company said in an exchange filing.Despite the recent drop in Ashok Leyland’s share price, investors haven’t lost any value. Their total investment remains unchanged, as the number of shares they hold will double once the bonus shares are credited.However, the bonus shares are scheduled to be credited to demat accounts on Thursday, July 17, with trading expected to begin on Friday, July 18.“We wish to inform that the Allotment Committee has fixed Wednesday, July 16, 2025, as the record date for determining the eligible shareholders for allotment of Bonus Shares. Further, in accordance with Sebi circular dated September 16, 2024, the deemed date of allotment of Bonus Shares shall be Thursday, July 17, 2025, and these Bonus Shares will be made available for trading on the next working day of allotment i.e. Friday, July 18, 2025,” the company said.As of March 2025, Ashok Leyland had 14.2 lakh retail investors, those holding up to Rs 2 lakh in share capital, who together owned 9.38% of the company. The bonus shares will be distributed to all shareholders who maintained their holdings as of July 16.