You will be entitled to receive the bonus shares only if you have held shares on the ex-date or sold shares on the ex-shares because of the T+2 settlement system. For instance, if the ex-date for bonus is March 12, you will be required to purchase the stock on or before March 11 to considered for the company bonus.

When a bonus is released, the share price decreases by the parameter that depends on the ratio of the issue, but the investment value of the stocks held does not alter. The left over value is provided to you in the form of bonus shares. If the bonus shares are not in whole numbers, then the balance amount will be credited to your registered bank account. 

For bonus shares to be credited to the demat account, it typically takes 15 days from the record date.

Till the bonus shares are credited to your demat account, your holdings in Neo will exhibit an artificial decline in profit and loss. When they are finally credited to the demat account, your profit and loss reflect its accurate value.

Both, bonus and splits undergo similar consequences, however, in splits, it’s the face value of the shares that reduces.