Home / Markets / Stock Markets /  Multibagger stock gains 159% YTD, record date declared for 3:1 bonus shares

With a market valuation of 207.27 Cr, Modis Navnirman Ltd. is a small-cap company that operates in the real estate industry. The listing date for the Modis Navnirman initial public offering (IPO) was July 6, 2022, and the total amount raised through the issuing of 1,260,000 equity shares with a face value of Rs. 10 amounted to Rs. 22.68 crores. The company's board of directors has set a record date for the bonus shares with a 3:1 ratio.

The company has said in a stock exchange filing that “In compliance with Regulation 42(2) & (3) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company has fixed November 15th, 2022 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the proportion of 3:1 i.e 3 (three) fully paid-up equity shares for every 1(one) existing fully paid-up equity share held, subject to the approval of the shareholders through Postal Ballot."

Pre-bonus issue paid-up share capital is 4,23,000, made up of 42,30,000 equity shares worth 10 each, and post-bonus issue paid-up share capital will be up to 16,92,00,000, made up of the existing 42,30,000 equity shares plus bonus shares worth up to 1,26,90,000 equity shares worth 10 each.

As a result of its real estate diversification, the firm has become one of the most valued developers in the nation. The shares of Modi's Navnirman Ltd closed today at an all-time high of 490.00 apiece, up by 7.17% from the previous close of 457.20. During its trading session, the recorded a total volume of12,800 shares. Since its IPO the stock has delivered a multibagger return of 159.33% so far. In the last 1 month of 59.61% and in the last 5 trading sessions the stock has gained 28.93%. 

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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