21 Mar , 2022 By : Kanchan Joshi
Shares of BSE Ltd surged more than 3% to ?972 apiece on the NSE in Monday's early deals, with the stock trading ex-bonus a day ahead of its record date for the bonus shares issue. The stock exchange has fixed Tuesday, March 22, 2022, as the record date for the purpose of determining the names of shareholders who shall be entitled for allotment of bonus equity shares.
The bonus issue will be in the ratio of 2 new fully paid-up equity shares of Rs. 2/- each for every 1 fully paid-up equity share held by the shareholders of the company, it had announced in an exchange filing. The stock exchange's board had met on February 8, 2022 to consider and approve the bonus issue along with its financial results for the quarter ended December 31, 2021.
A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make if affordable for investors. Bonus shares are fully paid additional shares issued by a company to its pre-existing shareholders.
Established in 1875, the BSE (Bombay Stock Exchange) is Asia's first stock exchange, one of India's leading exchange groups. The bourse was established as ‘The Native Share & Stock Brokers' Association’ in 1875. In 2017, the BSE became the first listed stock exchange of India. BSE's popular equity index - the S&P BSE Sensex - is India's most widely tracked stock market benchmark index.
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