 "Hinduja Global tanks 20% as 1:1 bonus issue fails to cheer investors")
Shares of Hinduja Global Solutions (HGS) were locked at the 20 per cent lower circuit at Rs 2,927.80 on the BSE in Friday’s trade on profit booking after the company announced 1:1 bonus share and an interim dividend of Rs 150 per share.
Till 09:30 am; a combined around 420,000 equity shares had changed hands and there were pending sell orders 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 intimated stock exchanges regarding board meeting for considering interim dividend and a proposal for bonus issue of equity shares. In the past one month, the stock had rallied 24 per cent, as compared to a 5 per cent rise in the S&P BSE Sensex till Thursday.
The board had recommended bonus shares in the proportion of 1 equity share for every 1 existing equity share held by the shareholders/ members of the company as on the record date, HGS said in an exchange filing.
The board also declared its third interim dividend of Rs 150 per share (1500 per cent) for the financial year 2021-22 and fixed January 18, 2022 as the “Record Date” for the payment of this dividend.
The HGS board, in their meeting held on August 09, 2021, had approved the sale of its healthcare services business (‘HS Business’) to wholly-owned subsidiaries of Betaine BV, which is owned by funds affiliated with Baring Private Equity Asia.
“Effective January 6, 2022, the HS Business and relevant subsidiaries stand sold/ transferred to Investor. The transaction was based on an enterprise value of $1,200 million subject to closing adjustments and resulted in inflows of $1088 million,” HGS said.
Till 09:30 am; a combined around 420,000 equity shares had changed hands and there were pending sell orders 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 intimated stock exchanges regarding board meeting for considering interim dividend and a proposal for bonus issue of equity shares. In the past one month, the stock had rallied 24 per cent, as compared to a 5 per cent rise in the S&P BSE Sensex till Thursday.
The board had recommended bonus shares in the proportion of 1 equity share for every 1 existing equity share held by the shareholders/ members of the company as on the record date, HGS said in an exchange filing.
The board also declared its third interim dividend of Rs 150 per share (1500 per cent) for the financial year 2021-22 and fixed January 18, 2022 as the “Record Date” for the payment of this dividend.
The HGS board, in their meeting held on August 09, 2021, had approved the sale of its healthcare services business (‘HS Business’) to wholly-owned subsidiaries of Betaine BV, which is owned by funds affiliated with Baring Private Equity Asia.
“Effective January 6, 2022, the HS Business and relevant subsidiaries stand sold/ transferred to Investor. The transaction was based on an enterprise value of $1,200 million subject to closing adjustments and resulted in inflows of $1088 million,” HGS said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%