CDSL board announces 1:1 bonus share issue, stock down 1.2%

“The Board of Directors has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Share of ₹ 10/- (Rupees Ten Only) each for every 1 (One) existing fully paid-up Equity Share of ₹ 10/- (Rupees Ten Only) each to the eligible Shareholders of the Company as on , subject to the approval of the Shareholders and other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as required,” said CDSL in a filing to the exchanges.

CDSL also stated that the record date for this purpose will be intimated in due course.

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The board of directors have also approved an increase in the authorized share capital of the company from Rs 150 crore to Rs 300 crore and the consequent alteration to the Memorandum and Articles of Association (MoA) to accommodate the issuance of bonus shares.

The company, on Friday, had stated its intention to consider the issue of bonus shares. This will be the first ever instance in which CDSL will be issuing bonus shares to its shareholders, as per the available information.

In its Q4FY24 results, the company’s board had announced a final dividend of Rs 19 and a special dividend of Rs 3 per share to commemorate the 25-year silver jubilee celebrations of CDSL.

CDSL had reported an 86% increase in its consolidated PAT to Rs 267 crore for Q4FY24 while its revenue rose 93% to Rs 240.8 crore.

Shares of CDSL were trading 1.2% lower at Rs 2,408.85 on NSE around 2:30 pm.

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