Hinduja Global tanks 20% as 1:1 bonus issue fails to please investors
– World Affairs SRS
till 09:30 am; Combined, around 420,000 equity shares had changed hands and sale orders were pending for 368,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.7 per cent at 60,001.
The stock of the company engaged in Business Process Outsourcing (BPO)/Knowledge Process Outsourcing (KPO) had hit a record high of Rs 3,948 on Tuesday, January 4, 2022 after the company called for a board meeting to consider interim dividend. The stock exchanges were informed about the same. Offer of bonus issue of equity shares. The stock was up 24 per cent in the past one month, compared to a 5 per cent rise in the S&P BSE Sensex till Thursday.
HGS said in an exchange filing, the board had recommended bonus shares by the shareholders/members of the company in the ratio of 1 equity share for every 1 existing equity share as on record date.
The board also announced its third interim dividend of Rs 150 per share (1,500 per cent) for the financial year 2021-22 and fixed January 18, 2022 as the “record date” for payment of this dividend.
The HGS Board, in its meeting held on 09 August 2021, approved the sale of its healthcare business (‘HS Business’) to wholly owned subsidiaries of Betaine BV, which is owned by funds affiliated with Baring Private Equity Asia. Is.
“Effective January 6, 2022, HS Business and related subsidiaries are sold/ transferred to the investor. The transaction was based on an enterprise value of $1,200 million subject to closing adjustments and resulted in an inflow of $1088 million,” HGS said.
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