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Business News/ Markets / Stock Markets/  Multibagger penny stock turns ex-bonus, ex-split today. 5 things you should know
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Multibagger penny stock turns ex-bonus, ex-split today. 5 things you should know

Multibagger penny stock: Small-cap company board has recommended stock split in 10:1 ratio

Multibagger stock has announced bonus share issue in 1:1 ratio. (MINT)Premium
Multibagger stock has announced bonus share issue in 1:1 ratio. (MINT)

Radhe Developers shares have turned ex-bonus and ex-split stock today because the board of directors of the company has fixed 14th July 2022 as record date for bonus share issue and finalisation of stock split. The small-cap company has announced 1:1 bonus share issue and stock split in 10:1 ratio. The small-cap company had informed about the recommendations after its meeting held on 27th May 2022. Later on it fixed record date for stock split and bonus share issue on 14th July 2022.

Radhe Developers informed Indian exchanges about the board of directors' proposal citing, "The Board of Directors have considered, approved and recommended issue of (1:1) 1 Bonus Shares for every 1 equity shares held by the equity shareholders of the Company as on a Record Date to be fixed thereon. The bonus issue of equity shares is subject to the approval of the shareholders and any other applicable statutory and regulatory approvals, as may be required."

On Radhe Developers bonus share proposal, the exchange communication reveals, "Considered and approved the proposal for Split/sub-division of Company's (1) equity share of face value of Rs. 10 each into 10 (Ten) equity shares of face value of Rs. 1/- Each."

Here we list out 5 things that Radhe Developers shareholders should know:

1] Bonus share issue: The board of directors of the company has recommended bonus share issue in 1:1 ratio.

2] Stock sub-division: The small-cap company's board of directors has recommended stock split in 10:1 ratio.

3] Record date for Bonus share issue, stock subdivision: The company board has fixed 14th July 2022 as record date for finalising the eligible shareholders for bonus share issue.

4] Approval for allotment of bonus shares: Radhe Developers has informed Indian bourses that board of directors of the company will meet on 18th July 2022 to to consider and approve the allotment of 25,17,99,000 equity shares of the company.

5] Bonus share worth: As the company has announced Re 1 face value of the stock post-split, net worth of bonus share issue will be 25,17,99,000.

Radhe Developers is one of the multibagger penny stocks that Indian stock market has produced in recent years. In last one year, this small-cap penny stock has surged from 10.44 to 237.65 apiece levels, ascending around 2,175 per cent in this time horizon.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 13 Jul 2022, 10:27 AM IST
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