BSE Shares jump 5% post ex-bonus adjustment; investors await credit of 2:1 bonus issue
Shares of BSE Ltd ended 5% higher at Rs 2,448 on May 23 after the stock turned ex-bonus, following the company's recently announced 2:1 bonus share issue.
While the stock price saw a sharp drop of around 65% in investors' demat accounts due to the adjustment, the gain reflected positive sentiment around the bonus announcement, ET reported.
Investors eligible as of the record date—May 23—will receive two fully paid-up equity shares of Rs 2 each for every one share held. Under the T+1 settlement cycle, shares had to be purchased by Thursday, May 22, to qualify.
The deemed allotment date for the bonus shares is Monday, May 26, with trading in the new shares set to begin from Tuesday, May 27. This marks only the second bonus issue in BSE's history, the first being in March 2022, according to Trendlyne.
Despite the adjustment, BSE stock has been a stellar performer, gaining 176.81% over the past year. In the last six months, the stock is up 55.75%, with a 27.68% rise in the past three months and a 17.78% gain in the last one month.
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