The Central Depository Service (CDSL) declared that the bonus shares had been approved by the company's shareholders. Additional shares of the company will be distributed to current shareholders through the CDSL bonus issue.
The shares of CDSL zoomed by almost 15 per cent just a day before bonus record date. The stock opened at Rs 1,500.00 per share on the national stock exchange. The shares of CDSL touched a day-high price of Rs 1,664.40 per share
The stock has recorded 52-week high level of 2,989.00 per share, and all-time high level of Rs 2,989.00 per share on the National Stock Exchange
Bonus issue ratio
The business declared that a bonus issue had been approved. In an announcement, CDSL stated that the company's shareholders had approved the issuance of one fully paid-up equity share with a face value of Rs 10 for each fully paid-up equity share that was previously in existence. Consequently, bonus shares will be issued by the CDSL at a 1:1 ratio.
Record date & credit in demat account
August 24, 2024, is the CDSL bonus share record date. In order to qualify for bonus shares from the company, investors must have CDSL shares in their demat account by August 23, 2024.
The CDSL stock price increased by 2.15 per cent on Thursday to Rs 2,927 per share as the record date drew near. The stock price has increased by more than 27 per cent in the previous month.
Total share to issue in bonus
CDSL is going to issue 10,45,00,000 equity shares with a face value of Rs 10 each as part of the bonus issue. According to the company's report, capitalisation-free reserves, which include general reserves and retained earnings, will be used to issue bonus shares.
Following the board's approval, or no later than September 1, 2024, the bonus shares will be credited to the investor's demat account. The company's board decided on July 2, 2024, to increase shareholder value and commemorate CDSL's 25th anniversary by issuing bonus shares.
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