This multibagger penny stock fixes record date for 102:100 bonus shares | Mint
Active Stocks
Thu Feb 22 2024 13:15:32
  1. Bharti Airtel share price
  2. 1,120.85 -1.66%
  1. Tata Steel share price
  2. 144.90 0.73%
  1. HDFC Bank share price
  2. 1,416.75 -1.49%
  1. State Bank Of India share price
  2. 759.00 -1.63%
  1. Power Grid Corporation Of India share price
  2. 276.30 -1.37%
Business News/ Markets / Stock Markets/  This multibagger penny stock fixes record date for 102:100 bonus shares
BackBack

This multibagger penny stock fixes record date for 102:100 bonus shares

With a market valuation of ₹13 Cr, SMVD Poly Pack is a small-cap company that operates in the packaging industry.

One of the leading Indian manufacturers and exporters of bulk bags, PP/HDPE woven bags, and FIBC Jumbo bags is SMVD Polypack. (PTI)Premium
One of the leading Indian manufacturers and exporters of bulk bags, PP/HDPE woven bags, and FIBC Jumbo bags is SMVD Polypack. (PTI)

With a market valuation of 13 Cr, SMVD Poly Pack is a small-cap company that operates in the packaging industry. One of the leading Indian manufacturers and exporters of bulk bags, PP/HDPE woven bags, and FIBC Jumbo bags is SMVD Polypack. The firm owns cutting-edge equipment with a 4000 MT installed capacity per year. Fertilizer plants, cement plants, chemical industries, flour mills, ceramic industries, steel industries, plastic compounds, rice plants, poultry farms, and many more are among the company's clientele. The record date for 102:100 bonus shares has been made public by the company's board of directors.

The company has said in its annual report that “The Board of Directors at its meeting held on Monday, August 22, 2022, subject to approval of the shareholders in General Meeting, approved and recommended issue of bonus equity shares of Rs. 10/- (Rupees Ten only) each credited as fully paid-up to eligible members of the Company in the proportion of 102:100 i.e. 102 (One hundred and Two) equity shares of nominal value Rs.10/- (Rupees Ten Only) each for every 100 (hundred) equity share of nominal value of Rs.10/- (Rupees Ten Only) each by capitalizing a sum not exceeding Rs. 5,06,47,080/- (Five crore six lakhs fourty seven thousand and eighty Rupees only) out of capital redemption reserve / securities premium account and/or any other permitted reserves / surplus of the Company, as may be considered appropriate."

The Board of Directors of SMVD Poly Pack have said in a stock exchange filing that “Pursuant to Regulation 42 of SEBI (LODR) Regulations, 2015, we would like to inform you that Tuesday, the 11th October, 2022 has been fixed as the record date for ascertaining the eligible list of shareholders for issuance of bonus shares, subject to the approval of shareholders in the Annual General Meeting on 30th September 2022."

The stock's last traded price on the NSE was 26.30 per share. The stock has produced a multibagger return over the past three years of 150.48%, and over the past year, it has appreciated by 56%. The company reported a promoter shareholding of 65.53%, a public shareholding of 34.43%, and FIIs holding of 0.04% for the quarter that ended in March 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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Oct 2022, 04:56 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