Home / Markets / Stock Markets /  Multibagger high promoter holding stock fixes record date for 8:1 bonus shares

Gretex Corporate Services Ltd. is a small-cap company with a market capitalization of Rs. 59.14 Cr. It operates in the financial services industry. One of the top financial consulting companies in India, Gretex Corporate Service offers IPO, valuation, corporate advisory, and other financial services. Only one year after its IPO, the company announced its first bonus shares at an 8:1 ratio. The Board of Directors of the corporation has made the record date public in order to ascertain whether stockholders are eligible for bonus shares.

The company has said in a regulatory filing that “This is to inform that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, that the Company has fixed Tuesday, October 11, 2022 as the “Record Date" for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares in the ratio of 8:1 (i.e. issue of 8 (Eight) equity share for every existing 1 (One) equity shares held of 10/- as on the above mentioned record date)."

The company decided to issue 90,98,760 equity shares at a price of Rs. 10, for a total proposed issuance value of Rs. 9,09,87,600. The Bonus Shares will be credited or distributed by October 31, 2022, as per the company.

Pre- Bonus share capital: Authorised equity share capital of Rs. 1,20,00,000 /- having face value of Rs. 10 /- per share. The issued equity share capital will be of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share. Paid-up share capital of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share.

Post-Bonus Paid-up Share Capital expected to be around: Authorised equity share capital of Rs. 11,00,00,000 /- having a face value of Rs. 10 /-per share. The issued equity share capital will be of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share. Paid-up share capital of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share.

The stock's last recorded trade on the BSE was on September 29 at a price of 520.00 per share. In the last 1 year, the stock has delivered a multibagger return of 151.21% and on a YTD basis, the stock has generated a multibagger return of 151.45% so far in 2022. On the BSE, the stock had touched a 52-week-high of 607.00 on (20/09/2022) and a 52-week-low of 160.00 on (29/03/2022), indicating that at the current price level the stock is trading 14.33% below the high and 225% above the low. For the quarter ended March 2022, the company recorded a promoter shareholding of 73.48% and a public shareholding of 26.52%. The promoter stake at the current level is much higher than its peers such as Computer Age Management Services, and Central Depository Services (India) Ltd.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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