This multibagger stock hits upper circuit for 2nd straight day ahead of record date for bonus issue
Premium- The company has fixed Wednesday, March 16, 2022 as its record date for bonus shares issue in the ratio of 2:3
Shares of Brightcom Group hit the upper circuit level for the second straight session by surging 5% on the BSE in Tuesday's early deals. The company has fixed Wednesday, March 16, 2022 as its record date for bonus shares issue in the ratio of 2:3. The company had announced the proposal regarding issuance of bonus shares which was considered by its board on January 25.
“The company has decided to set Wednesday, March 16, 2022, as the Record Date to ascertain the eligibility of shareholders entitled to the issuance of Bonus Shares. The proposed equity bonus will be issued in the ratio of 2:3 (two equity shares for every three equity shares held by the Members), as recommended by the Company's Board of Directors in its meeting held on January 25, 2022, subject to members' approval," Brightcom had announced in an exchange filing.
Brightcom Group is a digital marketing company as it consolidates Ad-tech, New Media and IoT based businesses across the globe. The company's global presence includes the US, Israel, Latin America ME, Western Europe and Asia Pacific regions.
The company has a reserve position of ₹3,655 crore on a capital of ₹208 crore. This aspect gives us adequate room to capitalise reserves and distribute part of those reserves as a bonus share issue, it had said. Brightcom shares have given multibagger return in a year's period.
“As the Brightcom share has multiplied several times in the past 12 months, it has now reached levels that may be beyond the reach of many small investors. Issuing bonus shares will make it more affordable for new, incoming members of our shareholder list," the company had added.
MINT PREMIUM See All
Never miss a story! Stay connected and informed with Mint. Download our App Now!!