Record Date 23 Oct 2026: Last Chance to Buy Tech Mahindra, IRFC, LTM, Modison and Azad India Today

A record date is the date a company uses to decide which shareholders are entitled to a dividend, bonus or split. The record date for several well-known names falls on Friday 23 Oct 2026, which makes today the final day to buy for those who want the payout.

This article lists each record date, the amount, the price and the dividend yield I calculated, and it flags where sources disagree. Buying only for a dividend is rarely a good plan because the share price usually drops by about the dividend on the ex-date. It is educational and not a recommendation.

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Record Date 23 Oct 2026: Main Dividend, Bonus and Split Stocks

Stock	Corporate action	Price at about 10:10 am IST	Yield (my calculation)
Tech Mahindra	Rs 15 interim dividend (face value Rs 5); 1:1 bonus recommended, subject to approval	Rs 1,827.30	About 0.82%
IRFC	Rs 1.15 second interim dividend (11% of face value Rs 10)	Rs 76.59	About 1.50%
LTM	Rs 25 interim dividend per one source; not confirmed	Rs 4,319.90	About 0.58% if Rs 25
Modison	Rs 4 dividend (400%)	Rs 428.10, down 4.99%	About 0.93%
Azad India Mobility	1:5 stock split, face value Rs 10 to Rs 2	Rs 81.73	Not applicable

Yield is the dividend divided by the price, so IRFC offers the highest of the five at about 1.50% while LTM's is the lowest. These are my calculations from today's prices and will change if prices move. The record date and ex-date are both 23 Oct, so a buyer today is on the register and a buyer tomorrow is not.

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How the Record Date and Ex-Date Work

Term	Meaning	Date for this list
Record date	The cut-off date for being on the company's register	Friday 23 Oct 2026
Ex-date	The first day the share trades without the entitlement	Friday 23 Oct 2026
Last day to buy	The trading day before the ex-date under T+1 settlement	Thursday 22 Oct 2026
Payment	Tech Mahindra's dividend is payable by 13 Nov	Other dates not found in my sources

Under T+1 settlement, shares bought on the last day to buy are delivered the next day, which is the record date. Anyone who buys on the ex-date, 23 Oct, misses the entitlement. Two stocks with a 22 Oct ex-date, Tips Music (Rs 6.50 dividend, price Rs 733.15) and Angel One (Rs 1.40, price Rs 289.70), are already trading without the dividend today, so buying them now does not qualify.

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Risk: The share price usually falls by roughly the dividend on the ex-date, so the payout is not an extra gain.

Tech Mahindra Record Date: Dividend and Bonus

Tech Mahindra Q2 FY27 measure	Reported figure
Revenue	Rs 16,180 crore, up 15.6%
Profit after tax	Rs 1,586 crore, up 32.7%
EBIT margin	14.8%
Deal wins	$1.023 billion
Interim dividend	Rs 15 a share, payable by 13 Nov
Bonus	1:1 recommended, subject to shareholder approval; credit expected around 15 Dec

The Tech Mahindra record date applies to the Rs 15 dividend. The board has also recommended a 1:1 bonus, which needs shareholder approval and has its own record date still to be announced. One source, Indmoney, does not mention the bonus at all, so I flag that conflict and suggest you read the company's exchange filing. The dividend yield is about 0.82% at Rs 1,827.30 (my calculation).

Risk: A bonus issue does not create value by itself because the share price adjusts, so judge Tech Mahindra on earnings and not on the bonus.

IRFC, LTM and Modison Record Date Details

Company	Detail	Caution
IRFC	Second interim dividend of Rs 1.15, or 11% of face value	Yield about 1.50% at Rs 76.59 (my calculation)
LTM	Q2 profit after tax Rs 1,398 crore, down 5% on the quarter; revenue Rs 11,808 crore; EBIT margin 15.6%; order inflow $1.26 billion	Dividend of Rs 25 comes from TradingView; LTM's filing says 'if declared', so the amount is unconfirmed
Modison	Rs 4 dividend (400%)	Stock down 4.99% at Rs 428.10 today

For LTM, the record date of 23 Oct is consistent across sources, but the Rs 25 amount is not, so I show it as unconfirmed and the yield as conditional. Modison's fall of 4.99% today is larger than the Rs 4 payout, which shows that dividends do not protect against price moves.

Other Record Date Stocks on 22 and 23 Oct

Stock	Dividend	Price	Yield (my calculation)
360 ONE WAM	Rs 7.50 (record and ex-date 23 Oct)	Rs 1,042.30	About 0.72%
ICICI Lombard	Rs 7 (record and ex-date 23 Oct)	Rs 1,632.30	About 0.43%
HDB Financial Services	Rs 2 (record and ex-date 23 Oct)	Rs 511.45	About 0.39%
Tips Music	Rs 6.50 (ex-date 22 Oct)	Rs 733.15	About 0.89%
Angel One	Rs 1.40 (ex-date 22 Oct)	Rs 289.70	About 0.48%

The record date information for these five comes from a single list, so verify each on the exchange site. The yields are small, which is why dividends alone rarely justify a purchase.

Dividend vs Bonus vs Split: What Each Corporate Action Does

Corporate action	What changes for you	Example in this list
Cash dividend	You receive cash in your bank account; the share price usually drops by about the same amount on the ex-date	Tech Mahindra dividend of Rs 15; IRFC dividend of Rs 1.15; Modison Rs 4
Bonus issue	You receive extra shares for free; the price adjusts so total value is unchanged	Tech Mahindra 1:1 bonus, if approved: 100 shares become 200
Stock split	Each share is divided into smaller shares; the price falls in proportion and total value is unchanged	Azad India split of 1:5: 100 shares become 500 and the price divides by five

The Tech Mahindra dividend and the IRFC dividend are cash payouts, while the Azad India split and the Tech Mahindra bonus only change the share count. None of these creates value on its own. A 1:5 split means the Azad India price of Rs 81.73 would adjust to roughly Rs 16.35 on the ex-date, and the number of shares you hold would rise fivefold (my calculation). Liquidity can improve after a split because the price per share is lower, but that does not change what the business is worth.

What You Would Actually Receive: A Simple Calculation

Holding example	Gross payout	Calculation note (my calculation)
100 Tech Mahindra shares	Rs 1,500	100 shares x Rs 15; value of holding about Rs 1,82,730 at today's price
1,000 IRFC shares	Rs 1,150	1,000 shares x Rs 1.15; value of holding about Rs 76,590
10 LTM shares if Rs 25 is declared	Rs 250	10 shares x Rs 25; value of holding about Rs 43,199; amount unconfirmed
100 Modison shares	Rs 400	100 shares x Rs 4; value of holding about Rs 42,810

These are gross figures before tax. Dividend income is added to your total income and taxed at your slab rate, so confirm the treatment with a tax adviser. Against holdings of tens of thousands of rupees, the payouts are small, which is why the Tech Mahindra dividend and the IRFC dividend should not be the only reason to buy a share. The better questions are whether you would hold the stock without the payout and whether its price already reflects the recent run-up or fall.

Risk: Buying a stock only to capture a dividend exposes you to the price drop on the ex-date and to normal market moves, which can be larger than the payout.

What to Watch Next After the Record Date

1. The ex-date price moves on 23 Oct for Tech Mahindra, IRFC, LTM and Modison
2. Tech Mahindra's bonus record date and shareholder approval
3. LTM's confirmed dividend amount
4. Azad India Mobility's split adjustment on the ex-date
5. Infosys results and dividend decision on 23 Oct

Conclusion

The record date of 23 Oct makes today the last day to buy Tech Mahindra, IRFC, LTM, Modison and Azad India for the dividend or split. Yields are modest, the LTM amount and the Tech Mahindra bonus record date are unconfirmed, and prices typically adjust on the ex-date. Decide on the business and your own risk, not only on the payout.

Frequently Asked Questions

What is the record date for Tech Mahindra, IRFC and LTM?

Ans. The record date is Friday 23 Oct 2026 for all three, and the ex-date is the same day. Thursday 22 Oct is the last day to buy under T+1 settlement.

What is a record date?

Ans. A record date is the cut-off date a company sets to decide which shareholders on its register get a dividend, bonus or split. Under T+1 settlement you must buy the day before the ex-date.

How much is the Tech Mahindra dividend and bonus?

Ans. Tech Mahindra declared an interim dividend of Rs 15 a share, payable by 13 Nov, and recommended a 1:1 bonus subject to approval. The bonus record date has not been announced.

How much is the IRFC dividend?

Ans. IRFC declared a second interim dividend of Rs 1.15 a share, or 11% of the Rs 10 face value. The yield is about 1.50% at Rs 76.59 by my calculation.

Is the LTM dividend confirmed?

Ans. No. One source says Rs 25, but LTM's own filing describes it as 'if declared', so the amount is unconfirmed. Check the company's exchange filing before relying on it.

Can I buy on the record date and still get the dividend?

Ans. No. Under T+1 settlement the ex-date is the same as the record date, so buying on 23 Oct misses the entitlement. You needed to buy by 22 Oct.

What is Azad India Mobility's split?

Ans. Azad India Mobility is splitting its Rs 10 face value share into five shares of Rs 2, a 1:5 split. The record date is 23 Oct and the stock was at Rs 81.73.

Is this article investment advice?

Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.