NSE Sets Record Date For 4:1 Bonus Share Issue

National Stock Exchange Ltd.'s board of directors has set Nov. 2 as the record date for bonus share issuance. The board of the market infrastructure providing company approved to issue four fully paid-up equity share capital of Re 1, against one-fully paid equity share with Re 1 value, NSE said in a press release on Wednesday.

A record date is the day on which a company determines which shareholders are eligible to receive the respective financial instrument.

In the board meeting held on Sept. 17, the board also approved to close the register of members and share transfer books from Oct. 10 to Nov. 2, the press release said.

Shareholders whose name will appear in register of members and beneficial owners' position on Nov. 2 will get shares allotted to them, the press release said. NSE will not receive new applications to transfer shares of the company during Book Closure period.

This development came as Securities Exchange Board of India cleared NSE in a co-location case. Further, last month the company sought no objection certificate from the market regulator to go ahead with its initial public offer.

NSE advancing to list on the bourses bore well for market infrastructure providing companies' stocks like BSE Ltd. and Central Depository Services India Ltd.