Home / Markets / Stock Markets /  This stock rallies 385% in 3 years of IPO, Board to declare bonus shares

With a market valuation of 44.27 Cr, Evans Electric Ltd. is a small-cap company that operates in the commercial services industry. Evans Electric Ltd. was founded in 1951 and is recognised as the most reputable company in India for electro-mechanical servicing and repairs. The Board of Directors of the firm will meet on Friday, December 16, 2022, to discuss and approve bonus shares.

The company said today in a stock exchange filing that “Notice is hereby given that the Board Meeting No. 4/2022-23 of Evans Electric Ltd is scheduled to be held on Friday, 16th December, 2022 inter alia: a) To consider and approve increase of Authorized Share Capital of the Company and amend the Capital Clause in the Memorandum of Association of the Company subject to approval of the shareholders; b) To consider and approve issue of Bonus Shares by way of Capitalization of Reserves subject to approval of the shareholders; c) To Consider obtaining approval of members through postal ballot for the proposed bonus issue; d) To Consider and approve appointment of scrutinizer for postal ballot; e) To consider and approve the fixation of record date for the bonus issue subject to approval of the shareholders."

Evans Electric IPO was opened on 30-04-2019 and closed on 03-05-2019 with an issue size of 1.9 Cr and a price range of 52 per share, and the stock got listed on the BSE on 13-05-2019. Since the IPO price, the stock has surged to 322.65 as of today's closing price which logs in a multibagger return of 385.19% in 3 years of IPO. The stock price surged from 75.30 on December 10, 2021, to the present market price during the course of 1-year, accounting for a multibagger return of 328.49%. The stock has climbed from 93 on January 3rd, 2022, to the present price on a year-to-date basis, posting a multibagger return of 246.94% so far in 2022. In the last 6 months, the stock has generated a multibagger return of 293.48% and 225.91% in the last 1 month. The stock had touched a 52-week-high of 375.30 on (08/12/2022) and a 52-week-low of 70.00 on (11/08/2022), indicating that at the current market price the stock is trading 360.92% above the 1-year low.


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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