Multibagger stock of 2022 announces stock split in 1:5 ratio: Do you own?
Premium- With a market valuation of Rs. 246.98 crore, Colorchips New Media Ltd. is a small cap company that operates in the consumer discretionary industry
With a market valuation of Rs. 246.98 crore, Colorchips New Media Ltd. is a small cap company that operates in the consumer discretionary industry. A diverse media company, Colorchips New Media Ltd. provides services in the areas of 2D animation, 3D animation, game development, special effects, graphic design and print publication services, content production, multimedia and web development, character design for animation, and much more. The Colorchips New Media Ltd. board of directors has recommended a stock subdivision, which would reduce the face value of equity shares from Rs. 10 to Rs. 2 per share.
The company has said in a regulatory filing that “The Board recommended the Split/Sub-division of shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.2/- each, subject to the approval of Members of the Company in the 37" Annual General Meeting. The record date for the sub-division of shares shall be intimated in due course."
Stock split details of Colorchips New Media as per the data available on stock market exchanges
Split/Sub-division Ratio: 1:5 (i.e., For 1 Equity Share of Face Value Rs.10/-, 5 Equity Shares of Face Value Rs.2/- each).
Rationale behind Split/sub-division: To, inter-alia, enhance the liquidity of the Company’s Equity Shares in the stock market and to encourage the participation of the retail investors.
Pre and Post Share Capital — Authorized, issued, subscribed and Paid-up Capital:-
Pre sub-division of equity shares: Authorized share capital- 1,85,00,000 (no. of shares), face value- ₹10, total share capital- ₹18,50,00,000.
Issued, Subscribed and Paid-up Share Capital: No. of shares- 1,70,09,900 (no. of shares), face value ₹10, total share capital- ₹17,00,99,000
Post Sub-division of Equity Shares:-
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Authorized share capital- 9,25,00,000 (no. of shares), face value ₹2, total share capital: ₹18,50,00,000.
Issued, Subscribed and Paid-up Share Capital: 8,50,49,500 (no. of shares), face value ₹2, total share capital: ₹17,00,99,000.
Expected time of Completion: Within 6 months from the date of approval by the shareholders at their 37th Annual General Meeting scheduled to be held on 24.09.2022.
Class of shares which are sub-divided: Equity Shares of Face Value of Rs.10/- each are Proposed to be sub divided/split into Equity Shares of Face Value of Rs.2/- each.
The shares of Colorchips New Media Ltd closed today at a new 52-week-high level of ₹145.20 apiece, up by 4.99% from the previous close of ₹138.30. In the last 1 year, the stock has generated a multibagger return of 205.68% or a CAGR of 208.51% approx and on a YTD basis, the stock has given a multibagger return of 523.18% in 2022. In the last 6 months, the stock has generated a multibagger return of 338.01% and also a multibagger return of 148.63% in the last 1 month. On the BSE, the stock had touched a 52-week-low of ₹21.10 on (20/12/2021) indicating that at the current market price the stock is trading 588% above the low.
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