Bonus shares 2024: Central Depository Services (India) Limited (CDSL) has announced the allotment of 10.45 crore bonus shares. The move was approved by the Board of Directors on August 25, 2024, following previous intimations on July 2, August 9, and August 17, 2024, as per an exchange filing.
CDSL stock price was trading in red, down 1.33 per cent at ₹1,547.70 on August 26, on NSE at 10:07 am.
The bonus shares are issued in a 1:1 ratio, meaning one new fully paid-up equity share with a face value of ₹10 is allotted for every existing fully paid-up equity share of ₹10, the filing added.
A 1:1 bonus share issue means that for each share of the company held by shareholders, they would get one extra share credited to their accounts.
CDSL share price closed in green on August 23, at ₹1,585, up 9.38 per cent, on NSE, hitting its 52-week high.
The eligible shareholders, whose names appeared in the Register of Shareholders or the List of Beneficial Owners maintained by the Depositories as of August 24, 2024, will receive these bonus shares. Consequently, the paid-up equity share capital of the company has doubled, increasing from ₹104.50 crore (10.45 crore shares) to ₹209.00 crore (20.90 crore shares), as per the filing.
The newly allotted bonus shares will hold equal status with the existing shares. They will be directly credited to the shareholders' demat accounts. In cases where the shares cannot be credited due to any issue, they will be transferred to the CDSL Unclaimed Suspense Account, as per legal requirements and SEBI guidelines, as per the filing.
Earlier in July, Central Depository Services (India) Limited (CDSL) announced its first-ever bonus issue of shares, offering eligible shareholders a 1:1 ratio. This means that shareholders would receive one additional share for each share they already own. The bonus issue marks a significant milestone for CDSL, being the first of its kind in the company's history, according to data from Trendlyne.
The announcement follows a strong financial performance in the quarter ending June 2024, where CDSL reported a remarkable 82.4% year-on-year (YoY) increase in profit after tax (PAT), reaching ₹134 crore. Additionally, the company saw a 72% YoY rise in revenue from operations, totaling ₹257 crore.
