The proposed bonus issue needs to be approved by the shareholders and regulator Sebi.
A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as to decrease its stock price thereby making it affordable for investors.
Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.
All shareholders who own company shares before the record date, which is determined by the firm, are eligible for additional shares.The bonus shares once allotted will rank pari‐passu in all respects and carry the same rights as the existing equity shares. These will be entitled to participate in full in any dividend and other corporate actions recommended.Further, the board has also recommended a final dividend of Rs 90 per share, which is 9,000% on the face value of each share for the financial year ended March 2024.The final dividend, if approved, by the shareholders at the ensuing AGM, will be paid to the eligible shareholders within 30 days from the AGM.
One of the world’s largest exchanges, NSE, is considered as a catalyst for driving India’s economic growth.
NSE was the first exchange in India to implement electronic or screen-based trading, which began its operations in 1994 — a pioneer in technology which ensures the reliability and performance of its systems through a culture of innovation and investment in technology. NSE operates a market ecosystem to bring in transparency & efficiency.