Home / Markets / Stock Markets /  Multibagger SME IPO jumps 550% in 4 month. Declares bonus shares, stock split
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Multibagger SME IPO: .he initial public offering (IPO) of Rhetan TMT Ltd was launched in August 2022 and the Rhetan TMT shares listed on BSE SME exchange on 5th September 2022 at 70 apiece levels, exactly at its price band of 70 per equity share. However, it ended at 66.50 apiece levels, below its price band. But, those allottees who remained invested in the stock backing their conviction, they have got strong return in last four month of its listing. Rhetan TMT share price today is 447 per share, around 540 per cent higher from its issue price of 70 per equity share.

However, the SME stock has announced bonus shares and stock split as well. As per the information available on BSE, Rhetan TMT Ltd board has approved bonus shares in 11:4 ratio whereas it has 1:10 ratio. The company approved issuance of bonus shares and stock subdivision subject to approval by shareholders of the company. The company board took these decisions in December 2022.

Informing about issuance of bonus shares, Rhetan TMT Ltd said, "This is to inform you that the Board of Directors of the Company in its meeting held today i.e. on Wednesday, 21st December, 2022 from 11:30 A.M. to 12:05 P.M. at the Registered Office of the Company inter alia, has considered the following, subject to the approval of Shareholders in ensuing Extra Ordinary General Meeting: Issue of 11 (Eleven) Bonus Shares for every 4 (four) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time."

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Informing about stock split, the small-cap company said, "This is to inform you that the Board of Directors of the Company in its meeting held today i.e. on Wednesday, 21st December, 2022 from 11:30 A.M. to 12:05 P.M. at the Registered Office of the Company inter alia, has considered the following, subject to the approval of Shareholders in ensuing Extra Ordinary General Meeting: 1) Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 10 (Ten) Equity Shares of the Company having face value of Re. 1/- each.

Rhetan TMT share price history

As mentioned above, the BSE SME IPO was offered at a price band of 70 apiece in August 2022 and the stock debuted in secondary market on 5tjh September 2022. The SME stock had a tepid listing but post-listing, it has witnessed huge buying interest. Today, the SME stock is available at 447 levels, which is near 540 per cent higher from its issue price. This means Rhetan TMT IPO is one of the multibagger SME IPOs that Dalal Street has delivered in recent months.

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Asit Manohar

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