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Business News/ Markets / Stock Markets/  Multibagger stock becomes 6 times in 15 months, announces stock split

Multibagger stock becomes 6 times in 15 months, announces stock split

Multibagger stock has announced stock split in 1:5 ratio

Multibagger stock has risen from around ₹25 to ₹162 apiece levels in last 15 months. (MINT)Premium
Multibagger stock has risen from around 25 to 162 apiece levels in last 15 months. (MINT)

Stock split 2022: The board of directors of small-cap company Servotech Power Systems Ltd has considered and approved stock split in 1:5 ratio. In its latest communication with the Indian bourse, the inverter maker company said that the company board has approved stock subdivision of one equity share with a face value of 10 to equity shares with a face value of 2 each.

Informing Indian exchange about stock split decision, Servotech Power Systems Ltd said, "The Board of Directors of Servotech Power Systems Limited (“Company"), upon recommendation of its sub-Committees, at its meeting held on 7th December, 2022 has inter-alia considered, approved and taken on record the sub-division (split) of Equity Share of the Company having a face value of Rs. 10 each (fully paid-up) into one (1) Equity Share of face value of Rs. 2/- each (fully Paid-up)."

Shares of Servotech Power Systems Ltd are one of the multibagger stocks that Indian stock market has produced in last one year. The NSE SME stock is not just one of the multibagger stocks in India but it is one of the multibagger IPOs as well. The NSE SME stock was launched at 31 apiece in 2017 and today this multibagger SME stock is quoting 162 per equity share, which is around 5 times of its issue price. So, the SME stock has delivered whopping return to its IPO allottees including those shareholder who failed to get company shares during allotment process.

The SME stock had a par listing on NSE SME exchange but after listing, the stock has delivered stellar return to its investors. If an IPO investor had remained invested in this SME stock till date after allotment of shares, its 1.24 lakh would have turned to 6.34 lakh today, delivering more than 400 per cent return to IPO investors in last five years.

The small-cap company was in news last month for bagging Bharat Petroleum Corporation Limited (BPCL) order worth 46.2 crore. The EV charging solution company was awarded a major project by Bharat Petroleum Corporation Limited (BPCL) to supply and install 800 units of DC fast EV Chargers at different locations across the country in the next four months.

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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 Dec 2022, 09:38 AM IST
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