The board of the National Stock Exchange (NSE) announced on Tuesday that it has set November 2 as the record date for its 4:1 bonus share issue, which was announced earlier in May. This means that the company will issue 4 bonus shares for each share currently held by its shareholders.
“The Bonus Equity Shares shall be allotted to the equity shareholders of the Company whose names appear in the Register of Members/Beneficial Owners’ position of the Company as on the Record Date i.e. Saturday, November 02, 2024.,” said the company in a filing to the exchanges.
The shares of the NSE are currently not listed on the exchanges; however, the exchange filed for a no objection certificate (NOC) from Sebi last month in order to submit its IPO papers.
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If the process moves forward, the shares of the NSE will need to be listed solely on the BSE, as an exchange cannot list on its own platform. Similarly, BSE shares are listed on the NSE.
Back in 2016, the exchange filed a Draft Red Herring Prospectus (DRHP), but it was eventually withdrawn following multiple allegations against its then CEO, Chitra Ramkrishna, who was arrested by the CBI in September 2022. However, hopes for the NSE IPO have been rising in recent days, and on Friday, Sebi disposed of a case against the NSE and its officials, including Ravi Narain and Chitra Ramkrishna, in the co-location scam, citing a lack of sufficient material evidence.
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The NSE reported a 39% year-on-year (YoY) growth in its Q1 consolidated profit, reaching ₹2,567 crore, with revenue increasing by 51% YoY to ₹4,510 crore.
NSE shares remain highly sought after in the unlisted market due to the exchange’s strong position in the equity derivatives segment. In contrast, BSE shares have jumped 170% over the past year.
