Have you every heard of this kind that any company issueing bonus to its shareholders in the ratio of 12 shares for every 1 share held in company and that also in such a bad financial market...YES its true.
The Bombay Stock Exchange (BSE) has declared bonus to its sharebroking members in the ratio of 12 shares for every 1 share held of the face value Re.1.00.
This decision was taken in an annual meeting of BSE on 8/11/2008, Also the BSE mulls to list it on exchanges and for that purpose it needs to raise its sharecapital.
According to the present virtue of SEBI law any company intending to get itself listed on BSE must have minimum sharecapital of Rs.3 cr and for NSE min. share capital required is Rs.10 cr.
At present the share capital of BSE stands at Rs.78,00,000, and post bonus will stand at Rs.10 cr.
The reserves of BSE on the year ended 31 march 2008 was at Rs.1500 cr.
Also BSE had given the dividend of 3,000 % to its members for the year 2007-2008
51 % of the shareholding is held with sharebroker members, BSE has also alloted shares to an international stock exchanges like Singapore stock exchange and Duesch Bourses at an rate of Rs.5,200 per share.
SBI, LIC, BAJAJ AUTO, DUBAI FINANCIAL, ATIX MAURITIUS are some of the stakeholders of BSE.
Looking to the present scenario of the markets it doesnot seems to float its IPO atleast for this year.
But for now it seems that the broker members of the BSE is on full joy as they get dividend of 3,000 % and the bonus share on their investments.
Challo atleast some one is happy
