September 18, 2024
New Delhi, India
NSE Bonus Share Issue
The National Stock Exchange of India (NSE) has announced November 2, 2024, as the record date for its upcoming 4:1 bonus share issue, previously approved by the board in May 2024. Eligible shareholders will receive four bonus shares for every one share held as of the record date.
Key Highlights
- Bonus Share Issue: NSE to allot 4 bonus shares for each share held by shareholders on record as of November 2, 2024.
- Board Approval: The bonus share issue was approved by the NSE board in May 2024.
- Book Closure: The register of members and share transfer books will remain closed from October 4 to November 2, 2024.
- Private Entity: NSE remains unlisted, but a potential IPO could see its shares listed on the BSE, following a no-objection certificate (NOC) request from SEBI.
Also Read: Mumbai-Based PMEA Solar Tech Files DRHP to Raise ₹600 Crore via IPO
Details of the Bonus Issue
- Shareholders with names on the Register of Members as of the record date will be eligible for the bonus shares.
- Book closure: During the period from October 4 to November 2, 2024, no share transfer applications will be processed, unless they were submitted with all necessary documents before the closure.
NSE’s IPO Hopes Resurface
In addition to the bonus issue, hopes for an NSE IPO have resurfaced following the Securities and Exchange Board of India (SEBI) closing a case against the exchange and its former officials, including Ravi Narain and Chitra Ramkrishna, in the co-location scam. This development could pave the way for a public listing in the near future.
NSE shares remain highly sought after in the unlisted market, owing to its dominance in the equity derivatives segment. The exchange recorded a 39% year-on-year (YoY) growth in its consolidated profit for Q1 2024, reaching ₹2,567 crore, with revenue increasing by 51% YoY to ₹4,510 crore.
Disclaimer:
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