By Malvika Gurung
Investing.com — Shares of the financial services heavyweight Bajaj Finserv (NS:) traded ex-split and ex-bonus on Tuesday, ahead of the record date of two corporate rewards for its shareholders, announced a month back.
The leading NBFC’s board of directors had fixed September 14, 2022, as the record date for bonus share issue and stock split of its equity shares.
In the past month, the mega-cap company’s shares have surged almost 13% and were last seen trading 0.76% higher at Rs 17,336.15/share.
On July 28, 2022, Bajaj Finserv’s board approved:
- Stock split in the ratio of 1:5: Sub-division of each existing equity share of face value of Rs 5 each into five equity shares of face value of Re 1 apiece, on a fully paid-up basis, followed by
- Bonus share issue at a 1:1 ratio: One bonus equity share of face value of Re 1 each will be issued for every one fully paid-up equity share of Re 1.
The NBFC will determine eligible shareholders for sub-division of existing equity shares and the issue of bonus equity shares on Sept 14, as per the company’s exchange filing.
Regarding the stock split and issuance of bonus shares to its shareholders, Bajaj Finserv said that the rewards are consequent to the significant growth witnessed in the company and its subsidiaries over the years, based on business and performance.