NSE sets November 2 as record date for 4:1 bonus share issue

In May, the NSE board approved a bonus share issue at a ratio of four shares for every one share held by its shareholders as of the record date.

The National Stock Exchange of India (NSE) has finalized the record date for its upcoming bonus share issuance during its board meeting on September 17. Shareholders on record as of Saturday, November 2, 2024, will be eligible for the bonus shares, a move that had previously been approved by the board earlier this year.

In May, the NSE board approved a bonus share issue at a ratio of four shares for every one share held by its shareholders as of the record date.

The NSE remains a private entity and is not publicly listed.

Additionally, the exchange has announced that its register of members and share transfer books will be closed from October 4 to November 2, 2024. During this period, no new share transfer applications will be accepted.

Only those transfer applications with all required documents submitted before the book closure will be processed, while any requests submitted during the closure will not be entertained, according to the exchange's official communication.

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On September 13, the market regulator disposed of its proceedings against the National Stock Exchange, Ravi Narain, Chitra Ramkrishna, Anand Subramanian, and others concerning the exchange's co-location services.

Narain is the former MD and CEO of NSE from 2000 to March 2013; Ramkrishna, the former MD and CEO of NSE from April 2013 to December 2016; and Subramanian, the former Chief Strategic Officer from April 2013 to March 2014. The order essentially closes the proceedings against the exchange and the officials.

The proceedings were initiated following an order issued by the Securities and Appellate Tribunal (SAT), after hearing appeals by the exchange, its employees, broker OPG Securities and others.

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