India's largest stock exchange, NSE is all set to deliver massive bonus shares in the range of 4:1. Meaning, the exchange will credit 4 bonus shares for free against 1 existing piece of share in its shareholders demat account. The last date for eligibility is already gone on November 2, 2024, Saturday. The exchange will allot bonus shares ahead of its upcoming hefty dividend of 9,000% worth Rs 90 per share, which is highest ever by the exchange.
NSE Dividend:
After the bonus issue record date, the next big event by NSE will be its dividend payout of Rs 90 per share.
In the month of May this year, alongside the bonus issue, the exchange announced a final dividend of 9000% i.e. Rs. 90/- per equity share of Re.1/- each, fully paid up, for the financial year ended March 31, 2024.
This is the exchange's final ividend, if approved, by Shareholders at the ensuing AGM, will be paid to the eligible shareholders on or before the 30th day from the date of the Annual General Meeting. For dividends, the paid-up share capital before the issue of Bonus Shares would be considered.
NSE Bonus Issue:
NSE has fixed November 02, 2024, as the record date to determine eligible shareholders for the allotment of bonus issues which is free of cost. NSE has announced 4:1 bonus issue, meaning, 4 (Four) fully paid-up bonus equity shares of Re. 1/- (Rupee One) each for every 1 (One) fully paid-up equity share of Re. 1/- (Rupee One) each held to the shareholders of the Company holding shares on the Record Date (to be determined by the Board).
Also, the exchange's Register of Members and Share Transfer Books will be closed from Friday, October 04, 2024, to Saturday, November 02, 2024 (both days inclusive) ("Book Closure").
Bonus Issue Settlement Guidelines:
Market regulations has reduced the time taken for credit of bonus shares and trading of such shares, from the record date of the Bonus Issue. The settlement type for the bonus issue will be T+2. Simply put, you will be able to receive your bonus shares in the demat account in two days from the record date from the earlier timeframe of two weeks.
Sebi's new rule has come into effect from October 1, 2024. Hence, any bonus shares carried after October 1, will be eligible for a 'T+2' settlement. Hence, NSE bonus shares would take only two days to credit in the Demat account.
The National Stock Exchange (NSE) is the leading stock exchange in India and the fourth largest in the world by equity trading volume in 2015, according to the World Federation of Exchanges (WFE). NSE was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data.
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