BSE Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
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Awaiting price reaction for this filing.
BSE Limited has informed the stock exchanges that its shareholders have approved the issue of bonus shares through a postal ballot with overwhelming majority. Out of 5.36 crore valid votes cast, 96.37% voted in favour and only 3.63% voted against the resolution. The postal ballot notice was issued on March 30, 2025, and e-voting concluded on May 9, 2025. Promoter group shareholders, who held 7.99 crore shares, also voted in favour. The resolution is now deemed to have been passed on May 9, 2025.
Bonus shares will increase the total share count for existing shareholders, making the stock more affordable and improving liquidity. While the share price typically adjusts downward after the bonus issue, it is generally seen as a positive signal of management's confidence in the company's growth.