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Business News/ Markets / Stock Markets/  Multibagger stock fixes record date for stock split and bonus shares
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Multibagger stock fixes record date for stock split and bonus shares

Dangee Dums Ltd., an FMCG firm with a market valuation of Rs. 415 crore, is a small-cap company.

The price of Dangee Dums Ltd. shares on the NSE closed today at ₹404.40 a piece, up 1.13% from the previous close of ₹399.90Premium
The price of Dangee Dums Ltd. shares on the NSE closed today at 404.40 a piece, up 1.13% from the previous close of 399.90

Dangee Dums Ltd., an FMCG firm with a market valuation of Rs. 415 crore, is a small-cap company. The company produces various kinds of bakery and dessert products and is now operating through 78 COCO outlets in two layouts. Three of the 78 stores—Panjarapole, Shyamal, and Bopal—in Ahmedabad, Gujarat, follow the Dangee Dums Yums model, while the remaining 75 follow the standard cakery configuration. The company has 45 outlets in Ahmedabad, 18 in Surat, 9 in Baroda, 3 in Anand, and 3 in Gandhinagar, making a total of five cities where it is active.

The company has said in a regulatory filing that “In order to improve the liquidity of our Company’s Equity Shares in the Stock Markets with higher floating stock in absolute numbers and to increase investor’s base, the Board of Directors of the Company, in its meeting held on Tuesday, 02nd August, 2022 have approved the Sub-division of the nominal value of Equity shares of the Company of Rs.10/- each into smaller denomination of Re.1/- each, subject to the approval of Members. Accordingly, each Equity share of the Company of the nominal value Rs.10/- each existing on the Record Date shall stand subdivided into 10 Equity shares of the nominal value of Re.1/- each. The Record Date for the aforesaid Sub-division of Equity shares is fixed as on Wednesday, 07th September, 2022. The Authorised Share Capital of the Company is Rs. 11,00,00,000/-[Rupees Eleven Crore Only] divided into 11,00,00,000 [Eleven Crore]Equity Shares of face value of Re. 1/- (Rupee One Only) each."

“The present Authorized Share Capital of the Company is Rs. 11,00,00,000/- (Rupees Eleven Crores only). The Company proposes to increase its authorized share capital to Rs.16,00,00,000/- (Rupees Sixteen Crores Only) divided into 16,00,00,000 (Sixteen Crores) Equity Shares of Re.1/‐ (Rupee One Only) each to facilitate fund raising in future via issuance of equity shares," said the Board of Directors in a stock exchange filing.

For the purpose of bonus shares, the Board of Directors of the company have said in a regulatory filing that “With a view to reward the existing Members, encouraging the participation of small investors by increasing the liquidity of the equity shares of the Company, and to increase the market capitalisation of the Company, the Board of Directors of the Company (‘the Board’) at its meeting held on 02nd August, 2022 has recommended issue of bonus shares in the ratio of 1:2 i.e. 1 bonus equity share of Re.1/- each for every 2 fully paid-up equity shares of Re.1/-each, post subdivision of the shares as stated to the eligible members of the Company as on the Record Date as determined. The Record Date for the aforesaid Bonus Issue of Equity shares is fixed as on Wednesday, 07th September, 2022. The capitalization of reserves shall be to the extent of 5,13,25,000 (Five Crores Thirteen Lakhs Twenty five Thousand) ordinary shares of Rs. 1/- (Rupees One Only) in the proportion of 1:2 (i.e. 1 bonus equity share of Re.1/- each for every 2 fully paid-up equity shares of Re.1/- each) held by the members as on the Record Date, post sub-division of shares. The Record Date for the aforesaid Sub-division of Equity shares is fixed as on Wednesday, 07th September, 2022."

The price of Dangee Dums Ltd. shares on the NSE closed yesterday at 404.40 a piece, up 1.13% from the previous close of 399.90. The stock has produced a multibagger return of 112.12% over the past year and a multibagger return of 226.66% over the past five years. The stock has gained 93.96% YTD so far in 2022. The total volume of shares traded during today's session was 89,646 shares, less than the 20-Day average volume of 73,613 shares.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 31 Aug 2022, 06:38 PM IST
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