OPEN APP
Home / Companies / News /  Hinduja Global Solutions declares 150 a share dividend, 1:1 bonus issue
Listen to this article

The Hinduja Group’s business process management entity, Hinduja Global Solutions (HGS) today declared the third interim dividend of 150 per share for the current financial year FY22. The company has fixed 18 January as the record date for the payment of this dividend.

The dividend will be paid to the eligible shareholders and members on or before 27 January.

Further, the company's board has also approved recommendation of issue of new bonus shares in the proportion of 1:1, which means for every one share he or she holds in the company, investors will get an additional share.

A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

All shareholders who own shares of the firm before the ex-date, which is determined by the firm, are eligible for bonus shares.

Hinduja Global Solutions has also completed the sale of its healthcare services business to wholly-owned subsidiaries of Betaine BV, funds affiliated with Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia.

The transaction was based on an enterprise value of $1,200 million, subject to closing adjustments, and resulted in inflows of $1,088 million.

As part of the divestment, HGS has transferred all client contracts and assets, including infrastructure related to the healthcare services business, to the Buyer. Over 29,000 employees from HGS across four geographies – the US, India, Jamaica, and the Philippines – will join the new organization, effective January 6.

Hinduja Global Solutions shares were locked in 20% lower circuit on the BSE in Friday's deals. In the last one year, the scrip has risen around 150%, giving multibagger returns to its investors.

Explaining the strategic thought behind the deal, Y M Kale, Chairman, Hinduja Global Solutions, stated, “This divestiture helps HGS unlock value and makes the capital available to grow the business of all the other verticals and divisions. It is the right time to refresh HGS' value proposition and evolve as a comprehensive digital and CX services partner to clients."

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close
Recommended For You
×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout