BSE Share Price Adjusted After 2:1 Bonus Issue, Not a Crash - Stock Climbs 5% Intraday

Shares of BSE Ltd. were in active focus on Friday morning as the stock traded ex-bonus, following the company's 2:1 bonus share issuance, triggering a sharp but misleading price correction on some trading platforms. The stock opened at ₹2,358, adjusted from Thursday’s closing price of ₹7,015, reflecting the corporate action rather than a real decline in value.

Some retail investors were caught off guard as certain brokerage apps incorrectly displayed a 66–67% fall, due to delayed or inaccurate price adjustment mechanisms. The fall, however, is purely notional  -  an outcome of the share price being recalibrated to reflect two additional shares issued for every one held, with no change in overall value of their holdings.

Important:
Only shareholders who held BSE stock as of May 23, 2025 (record date) are eligible to receive the bonus shares. The allotment date is set for Monday, May 26, and the listing of the bonus shares will be effective from Tuesday, May 27.

This is the second bonus issuance by BSE since its listing in 2017. The exchange had earlier issued a 2:1 bonus in 2022. The board approved the current bonus on March 30, 2025, and announced the issue of 27.46 crore bonus shares with a face value of ₹2 each.

Despite the technical adjustment, BSE shares gained over 2% intraday on Friday to trade at ₹2,389, taking the company's market capitalisation close to ₹96,000 crore. The stock remains a significant multibagger story in the Indian equity landscape, having rallied over 5,200% in the past five years, 165% in the last one year, and nearly 50% in the last six months.

Even on an adjusted basis, BSE is down only 6% from its 52-week high of ₹2,529.33 hit on May 20, 2025, and up over 240% from its adjusted 52-week low of ₹705, seen in July 2024.

What’s Driving BSE's Stellar Run?

The optimism is not without fundamental support. BSE reported a massive 362% year-on-year (YoY) jump in net profit to ₹494 crore for the recent quarter. Revenue from operations rose 75% YoY to ₹847 crore, while operating EBITDA (including core SGF business) more than tripled to ₹594 crore. EBITDA margins stood impressively at 70%, indicating strong operating leverage.

The exchange has also rewarded shareholders generously in the past through dividends totaling over ₹170 per share, along with two share buybacks  -  one in 2019 and another in 2023.

SEBI Considers Expiry Change and NSE Listing

Separately, BSE shares saw some pressure on Thursday, falling nearly 4% intraday after reports emerged that SEBI is evaluating NSE’s proposal to shift weekly index expiry to Tuesdays  -  a move that could potentially affect volumes in BSE’s derivative segment. A SEBI circular on expiry schedules is expected soon, according to sources cited by CNBC-TV18.

At approximately 10:05 AM, shares were trading at Rs 2,455.50, up 5.27% or Rs 123 from the previous close of Rs 2,332.50 on the NSE, adjusted for bonus.

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