Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Stock Markets/  Multibagger stock declares 6:11 bonus shares, 1:10 stock split after 425% rally in one year
BackBack

Multibagger stock declares 6:11 bonus shares, 1:10 stock split after 425% rally in one year

Multibagger stock: In the last one year, the small-cap stock has risen from around ₹86 to ₹452 per share level on the BSE

The multibagger small-cap stock informed Indian exchanges that record date for finalising the eligible shareholders for issuance of bonus shares and stock split will be decided later. (Photo: Pixabay)Premium
The multibagger small-cap stock informed Indian exchanges that record date for finalising the eligible shareholders for issuance of bonus shares and stock split will be decided later. (Photo: Pixabay)

Multibagger stock: Shares of Lorenzini Apparels Ltd are one of the multibagger stocks that Indian stock market has delivered in the last one year. In this time, this small-cap stock has surged from around 86 to 452 apiece level on BSE, delivering over 425 percent returns to its positional investors. However, the company board has announced one more news for its shareholders.

The board of directors of the small-cap multibagger stock has declared bonus shares and stock subdivision. In its board meeting held earlier this week, the small-cap company declared issuance of bonus shares in 6:11 ratio. This means six bonus shares to every eligible shareholders for holding 11 shares of the company. 

Also Read: Stock market today: Why SpiceJet share price shot up 13% today — explained

Likewise, the company board declared stock split in 1:10 ratio, which means 10 shares to an eligible shareholder for hodling on share of the company.

Lorenzini Apparels stock split

Informing Indian stock market bourses about the developments, Lorenzini Apparels Ltd said, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at their meeting held on Monday, February 12, 2024 inter-alia, considered and approved Sub-Division of Face Value of Equity Shares of the Company from Rs. 10/- (Rupees Ten Only) each to Re. 1/- (Rupee One) each, subject to the approval of shareholders to be obtained through Postal Ballot process. In this regard, the record date for such division/split shall be intimated to the stock exchanges in due course."

Lorenzini Apparels bonus shares

Lorenzini Apparels Ltd informed the stock market exchanges about issuance of bonus shares saying, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at their meeting held on Monday, February 12, 2024 inter-alia, considered and approved proposal of issuance of Bonus equity shares to the security holders of the Company in the ration of 6:11 i.e. 6 (Six) new fully paid-up equity share of Re. 1/- (Rupee one only) each for every 11 (Eleven) fully paid-up Equity Shares of Re. 1/- (Rupee one only) held by the Eligible securityholders of the Company as on the record date, subject to the approval of shareholders to be obtained through Postal Ballot process. In this regard, the record date for such bonus issue shall be intimated to the stock exchanges in due course."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

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.
More Less
Published: 16 Feb 2024, 01:50 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started