Why today’s buyers of IEX shares are not eligible for 2:1 bonus

The stock of India Energy Exchange turned ex-bonus from Friday. IEX shares jumped 15 per cent to hit an intraday high of ₹278.70 but currently trading at ₹258.95, up 6.56 per cent over the previous day’s close. The stock on Thursday closed at a cum-bonus price of ₹729.

The company had announced a bonus in ratio of 2:1, for which the record date has been fixed as December 6 to identify eligible shareholders to receive the bonus shares.

However, those buying today will not receive bonus shares, as the book will be closed today, and the company will update their record book based on December 2 holding.

The change has also been reflected in the derivatives segment on the NSE. The market lot has been increased to 3,750 shares from 1,250 shares. Option strike prices too have been changed to reflect the ex-bonus value on the NSE.

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