Shares of India’s largest stock exchange soared 7 percent to an all-time high of Rs 1,138.80 per share after the company revised the share buyback offer to Rs 1,080 per share against the previous price of Rs 816.
At 3:28 p.m., On the National stock exchange, BSE Ltd shares were trading at Rs 1,115.00 per share, up Rs 53.80 or 4.92 percent from the previous close price. The company has a market capitalization of Rs 15,130 crore.
According to the company’s exchange filing, BSE Ltd revised the share buyback price from Rs 816 to Rs 1,080 per share, for the total consideration for the buyback of Rs 374 crore. The record date to determine shareholders’ eligibility to participate in the proposed share buyback is set for Thursday, September 14, 2023.
Through the buyback, BSE aims to re-acquire 2.56 percent of the total number of Equity Shares in the total paid-up equity capital of the Company as of March 31, 2023. This amounts to 34,70,370 Equity Shares reported by the company.
BSE shares have delivered a multibagger return of 151 percent in the previous six months, and a multibagger return of 101 percent year to date.
The company has maintained a net profit margin of 16.91 percent and an operational profit margin of 29.79 percent in recent fiscal years.
The company’s revenue has increased by 35 percent year on year, from Rs 192 crore in Q1FY23 to Rs 259 crore in Q1FY24. During the same period, Net profit has significantly increased by 1370 percent from Rs 29 crore to Rs 428 crore.
According to the latest shareholding pattern, Foreign institutional investors hold 8.77 percent of the company, while retail investors hold 64.83 percent stake.
The Bombay Stock Exchange is a stock exchange in Mumbai, located on Dalal Street. The Company provides a trading platform for stocks, currencies, debt instruments, derivatives, and mutual funds.
Written by Omkar Chitnis
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