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Business News/ Markets / Stock Markets/  This multibagger stock's board recommends bonus shares in 3:2 ratio, Details inside
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This multibagger stock's board recommends bonus shares in 3:2 ratio, Details inside

The multibagger stock has rallied than 101% in a year's period

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SecMark Consultancy Ltd's board has approved the issue of bonus equity shares in the ratio of 3:2, subject to the approval of the shareholders. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

“We hereby inform you that the Board of Directors at their Meeting held today i.e. August 23, 2022 has, inter alia considered and approved the issue of bonus shares in the ratio 3 (three) fully paid-up equity shares for every 2 (two) existing full paid-up equity share held by the shareholders, subject to the approval of the shareholders of the company," the company had announced in an exchange filing earlier this week.

Further, the board also approved migration of Listing/Trading of company’s present listing from SME Platform of BSE Limited to the Main Board of BSE Limited as well Listing/Trading on Main Board of National Stock Exchange of India Limited subject to approval of the shareholders of the Company, BSE Limited, National Stock Exchange Limited, or such other authorities.

Meanwhile, the board also considered and approved to amend the Memorandum of Association of the company due to changes in authorized share capital of the company, subject to approval of the members of the company.

Headquartered in Mumbai, India, SecMark Consultancy is engaged in consulting, technology and outsourcing services to financial market participants and has specialists in Compliance, Operations, Risk Management, Software Development, IT Infrastructure Management, System Audits & Cyber Security. The company's clients include more than 200 leading financial market participants.

SecMark Consultancy shares have given multibagger return of more than 101% in a year's period, whereas the multibagger stock has surged nearly 66% in 2022 (YTD) so far as compared to about a 0.6% fall in benchmark BSE Sensex.

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Published: 27 Aug 2022, 09:03 AM IST
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