- Shares of Cupid Ltd rose 2.46% to Rs 93.85 on NSE after turning ex-bonus on March 9
- The 4:1 bonus issue gave shareholders four new shares for every one held as of record date
- More than 107.57 crore bonus shares of Re 1 each will be allotted on March 10, 2026
Shares of condom maker Cupid Ltd. traded higher on Tuesday, March 10, a day after the stock turned ex-bonus when it adjusted to reflect the impact of the corporate action.
The mid-cap stock was trading at around Rs 93.85 on the NSE, up 2.46% from the previous close. During the previous session, the stock opened at Rs 94.05, touched an intraday high of Rs 95.85, and slipped to a low of Rs 92.30.
Cupid shares, which were trading near Rs 400 last week, have seen their headline price drop sharply after the company's 4:1 bonus issue took effect. The stock began trading ex-bonus on March 9, leading to an adjusted price of a little over Rs 92 on the NSE.
Under the bonus issue, existing shareholders will receive four new shares for every one share held as of the record date.
In a regulatory filing, the company said the deemed date of allotment for the bonus shares is Tuesday, March 10, 2026, when more than 107.57 crore fully paid-up bonus equity shares of Re 1 each will be allotted to eligible shareholders.
Despite the mechanical price adjustment following the corporate action, the stock witnessed strong buying interest. Cupid shares had surged as much as 13% intraday on the NSE and about 15% on the BSE after turning ex-bonus.
In April 2024, the company first executed a 1:10 stock split, reducing the face value of shares from ₹10 to Re 1. Around the same time, it also issued 1:1 bonus shares, doubling investors' holdings.
With the latest 4:1 bonus issue, the cumulative impact has been substantial.
For example, one share held before the April 2024 split would now translate into 80 shares. The sequence works as follows: the 1:10 split converts one share into ten, the 1:1 bonus increases that to twenty, and the 4:1 bonus expands those holdings fourfold to eighty shares.
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