Multibagger small-cap stock recommends 1:2 bonus shares. Details here
Premium- Multibagger stock: Dividend paying stock doubled shareholders money this year when it climbed to 52-week high of ₹271.05 apiece levels on NSE in June 2022
Multibagger stock: Hardwyn shares are one of the multibagger stocks produced by Indian stock market in recent years. The board of directors of this small-cap company has recommended 1:2 bonus share issue, which is subject to approval of shareholders and members of the company. This bonus share would be like icing on the cake as the multibagger stock has delivered more than 83 per cent return to its shareholders in 2022. It doubled shareholders money this year when it climbed to 52-week high of ₹271.05 apiece levels on NSE in June 2022.
Informing about the bonus share issue, Hardwyn India Ltd said, "With Reference to aforesaid subject and Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the Board of Directors of the Company at their meeting held on Monday 13 June, 2022, has inter alia, approved the issue of Bonus shares in the proportion of ratio of 1:2 [i.e. 1 (One)] fully paid up Equity shares for every 2 (Two) Equity shares held] to the shareholders on such date (Record Date) as may be determined by the Board of Director(s) of face value of ₹10/- (Rupees Ten) each subject to the approval of Members of the company and other approvals, consents, permissions, conditions and sanctions, as may be necessary."
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The board of directors of the multibagger stock also approved increase in authorized share capital of the company from ₹10,25,00,000(Rupees Ten Crore Twenty Five Lakh) divided into 1,02,50,000 (One Crore Two Lakh Fifty Thousand) equity shares of ₹10 (Rupees Ten) each to ₹15,60,00,000 (Rupees Fifteen Crore Sixty Lakh only) divided into 1,56,00,000 (One Crore Fifty Six Lakh) equity shares of ₹10 (Rupees Ten) each by creation of additional 53,50,000 (Fifty Three Lakh Fifty Thousand) equity shares of ₹10 (Rupees Ten) each and consequent amendment to clause V of the Memorandum of Association of the Company, subject to the approval of the shareholders of the company.