Multibagger stock sets record date for 6:11 bonus shares, 1:10 stock split

Bonus shares, stock split record date: Lorenzini Apparels share price has registered a whopping return in 2024. In year-to-date (YTD) time, this small-cap stock with a market cap of around ₹390 crore has surged from ₹239.50 to ₹380 apiece levels on NSE, logging near 60 percent appreciation in this time. In the last one year, this small-cap stock has delivered multibagger returns to its shareholders as it has risen to the tune of 350 percent in this time. This multibagger stock is in the news today as the board of directors of the small-cap company has fixed 27th March 2024 as the record date for finalizing eligible shareholders for issuance of bonus shares and stock split. The company has declared bonus shares in a 6:11 ratio whereas the board has declared a stock split in a 1:10 ratio.

Lorenzini Apparels stock split, bonus shares

The small-cap multibagger stock informed Indian stock market exchanges about the corporate development saying, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that pursuant to the shareholders' approval obtained through the Postal Ballot process on March 14, 2024, the Board of Directors in their meeting dated March 15, 2024, has fixed Wednesday, March, 27th 2024 as the "Record Date" for the purpose of; A) Sub-division of the face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid up Equity Shares of the nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of the nominal value of Re. 1/-(0ne Rupee) each fully paid-up and; B) Ascertaining the eligibility of security holders entitled for issuance of Bonus Equity Shares of the Company in the ratio of 6:11 i.e. 6 (Six) Equity Shares for every 11 (Eleven) Equity Shares having a face value of Re. 1/-(considering the post sub-division/split of face value of equity shares)."

Lorenzini Apparels share price history

The small-cap stock has a history of delivering whopping returns to its shareholders. The stock has remained in base building mode in the last one year but still, it has delivered a 60 percent return in YTD time. In the last six months, this small-cap stock has ascended to the tune of 70 percent whereas, in the last one year, it has delivered a 350 percent return to its positional shareholders. However, in the last five years, this small-cap stock has risen from around ₹5.50 to ₹380 apiece level, recording a 6,800 percent rise in this time."

This mainboard multibagger stock is available for trade on both BSE and NSE. The current market cap of this small-cap stock is around ₹390 crore and its current trade volume on the NSE is 4,741. This means the multibagger stock is a low-float stock. Its 52-week high is ₹508 per share whereas its 52-week low is ₹82.60 apiece.

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