Mumbai, June 24: Edelweiss Capital today announced a bonus issue for its shareholders in the ratio of 1:1. The company has also split the face value of its shares to Re 1 apiece from Rs 5 to bring in more retail investors.
The announcements saw the scrip rising Rs 8.05, or over 1.56 per cent, to Rs 524.95 on the Bombay Stock Exchange.
The decisions were taken at a board meeting held today. Chairman Rashesh Shah said: This year Edelweiss completes 15 years. Given this and the fact that the company has a strong balance sheet, the board of directors felt it was the right time to reward its shareholders as well as increase liquidity of the stock.
With the stock markets ruling firm, a host of companies have opted for a bonus issue, a stock split or both. Some of the firms that have gone for a split include Mahindra & Mahindra, Sterlite Technologies, Sterlite Industries and Emami.
The sensex today closed down 26 points on heavy selling in ICICI Bank and RIL shares with rising food prices casting a shadow.