Bombay Stock Exchange Shares Surge 10% After Bonus Issue Plan

On Tuesday, 28 December 2021, the Bombay Stock Exchange’s shares rose to Rs. 2,028 on the National Stock Exchange (NSE). This is a 10% surge in response to the bourse announcing that its board of directors will meet to discuss a bonus issue on 8 February 2022.

Their board of directors’ meeting will discuss, among other things, unaudited financial results of a quarter and nine months ended on 31 December 2021. Moreover, their board will also discuss the issuance of bonus shares which are subject to approval.

Traders traded these BSE shares at Rs. 1,977.55 on the National Stock Exchange. 8,62,301 equity shares were traded on the NSE.

This stock had hit a record high of Rs 2,373.70 on 15 December 2021. In the past month, Bombay Stock Exchange surged 30% against the 1.1% rise of the Nifty 50 Index. In the past 6 months, BSE stock rose by 113%. Lastly, in the past year, BSE stocks have increased 219%.

Bombay Stock Exchange

This Bombay Stock Exchange bourse went public in 2017. Some details of the BSE IPO are shown below:

• Issue Type: Book Built type

• Market Lot: 18 shares

• Offer for Sale: 15,427,197 Equity Shares 

• IPO Price Band: Rs. 805 to Rs. 806 per equity share

This company went public to achieve the benefits of listing on the NSE and allowing existing shareholders to sell their stake. This IPO listing date was on 3 February 2017. When it was recorded, shares of this bourse traded at Rs. 1085.

Bottom Line

BSE had listed on the National Stock Exchange at a premium of 34.62% over the issue price. Hence, there is considerable excitement regarding this new issue of equity shares.

Frequently Asked Questions

1. Who were the lead managers to the issue?

Ans. Lead managers to the issue were:

• • Spark Capital Advisors (India) Private Limited

  • SMC Capitals Limited

  • SBI Capital Markets Limited

  • Nomura Financial Advisory And Securities (India) Pvt. Ltd.

  • Motilal Oswal Investment Advisors Pvt. Ltd.

  • Jefferies India Private Limited

  • Edelweiss Financial Services Ltd.

  • Axis Capital Limited

2. Who was the registrar of this BSE IPO?

Ans. KFintech Private Limited was this IPO’s registrar.

3. What was the maximum lot size?

Ans. The maximum lot size is 13.

Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.