Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Markets / Stock Markets/  Multibagger stock recommends 1:10 bonus shares: Key takeaways to note
BackBack

Multibagger stock recommends 1:10 bonus shares: Key takeaways to note

A small cap company with a market worth of ₹240.95 crore, Shubham Polyspin Ltd. operates in the consumer discretionary industry.

Today's closing price for Shubham Polyspin Ltd shares was ₹218, down ₹5.00% from the previous close (REUTERS)Premium
Today's closing price for Shubham Polyspin Ltd shares was 218, down 5.00% from the previous close (REUTERS)

A small cap company with a market worth of 240.95 crore, Shubham Polyspin Ltd. operates in the consumer discretionary industry. One bonus share will be issued for every ten shares that shareholders hold, according to a recommendation made by the company's board of directors. The upcoming 10th annual general meeting (AGM) of the firm, set for September 12, 2022, is when members and shareholders will vote on whether to approve the bonus share issuance.

The company has said in a regulatory filing that its Board of Directors has “accorded to capitalize a sum of Rs. 1,10,20,000/- from the Credit balance of the Profit & Loss Account for distribution among the holders of existing fully paid equity shares of Rs. 10/- each of the Company, whose names will appear in the Register of Members/Beneficial Owners’ of the Company on Record Date to be decided by the Board of Directors for this purpose, as an increase of the nominal amount of the equity share capital of the Company held by each such shareholder, and not as income or in lieu of dividend, credited as 11,02,000 new fully paid equity shares of Rs. 10/- each as bonus shares in the proportion of 1 (One) new equity bonus share of Rs. 10/- each for every 10 (Ten) existing fully paid equity share of Rs. 10/- each held."

They further added that “The existing Authorised Capital of the Company is Rs. 12,01,00,000/- (Rupees Twelve Crores One Lakh Only) comprising of 1,20,10,000 Equity Shares of face value of Rs. 10/- each. In view of proposed bonus issue it would be necessary to increase the said Authorised capital to Rs. 13,01,00,000 (Rupees Thirteen Crores One Lakh only) comprising of 1,30,10,000 Equity shares of face value of Rs. 10/- each. The present Authorized Share Capital of the Company is Rs. 12,01,00,000/- out of which share capital of Rs. 11,02,00,000/- is paid-up capital. There is balance of Rs. 2,61,35,000/- to the credit of profit and loss account as on 31st March, 2022 which is available for capitalization."

Tuesday's closing price for Shubham Polyspin Ltd shares was 218, down 5.00% from the previous close. The stock has produced a multibagger return of 897.04% over the past five years and a multibagger return of 413% during the past three years. The stock has gained 50.38% over the past year, and on a year-to-date basis, it has climbed 25.66% so far in 2022. 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

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).
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: 31 Aug 2022, 09:49 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
Switch to the Mint app for fast and personalized news - Get App