Multibagger SME IPO rallies 300% since listing, Board declares 2:1 bonus shares
1 min read . Updated: 08 Feb 2023, 06:56 PM IST
Premium- On July 13, 2022, Jayant Infratech Ltd., an SME IPO, was listed on the BSE. With a reputation for competence in infrastructure projects and railway electrification, Jayant Infratech Ltd. was established in 2003.
On July 13, 2022, Jayant Infratech Ltd., an SME IPO, was listed on the BSE. With a reputation for competence in infrastructure projects and railway electrification, Jayant Infratech Ltd. was established in 2003. The company on 20th January 2023 announced bonus shares in 2:1 ratio for which the record date has been declared today by the Board of Directors.
“It is hereby intimated that the Company has fixed Wednesday, March 01, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 2:1 i.e (two) bonus equity shares of Rs. 10 each for every 1 (One) fully paid-up equity share held as on record date," said Board of Directors of Jayant Infratech in a stock exchange filing today.
The Balance of Securities Premium Account would be used to pay for the bonus issuance with Rs. 6.47 Cr. The balance of the Securities Premium Account as of March 31, 2022, according to the audited balance sheet, is Rs. 6.74 Cr.
Jayant Infratech IPO is an SME IPO of 924,000 equity shares with a face value of ₹10 aggregating up to ₹6.19 Crores. The issue's price per share was set at ₹67, and the required minimum order size is 2000 shares. On July 5, 2022 at 6:29 PM, the Jayant Infratech IPO received a 4.00 times subscription. In the retail category, 3.76 times, times, and 4.23 times, respectively, the public issue received subscriptions. The IPO commences on June 30, 2022, and ends on July 5, 2022.
The shares of Jayant Infratech closed today on the BSE at ₹332.00 apiece level, down by 2.35% from the previous close of ₹340.00. The stock recorded a total volume of 750 shares and since its listing, the stock has rallied more than 4 times and clocked a multibagger return of 316.04% so far. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 71.44% and a public stake of 28.56%.
