With high promoter holding, this penny stock fixes record date for 1:2 bonus shares

The shares of Alphalogic Techsys Ltd closed today at ₹52.00 apiece level, down by 0.76% from the previous close of ₹52.40. (istockphoto) — The shares of Alphalogic Techsys Ltd closed today at ₹52.00 apiece level, down by 0.76% from the previous close of ₹52.40. **(istockphoto)**

2 min read . Updated: 08 Sep 2022, 06:14 PM IST Vipul Das

Alphalogic Techsys Ltd. is an IT-related small-cap firm with a market cap of Rs. 117.61 crore

Listen to this article

Alphalogic Techsys Ltd. is an IT-related small-cap firm with a market cap of Rs. 117.61 crore. The company develops web and mobile applications. The business services offered by the organization include end-to-end strategy and consultation, web application, mobile application, UI/UX consulting & design, business intelligence, and DevOps services. For the purpose of 1:2 bonus shares, the Board of Directors has announced the record date.

The company said in a regulatory filing that its Board of Directors approves the “Recommendation of issuance of fully paid-up Bonus Share in the ratio of 1:2 i.e. 1 (One) Equity Share for every 2 (Two) fully paid up Equity Shares of ₹05/- each, subject to approval of the shareholders of the Company. The Company will inform in due course, the “Record Date" for determining shareholders entitled to receive Bonus Shares."

“The Pre-Bonus paid up Share capital as on 03rd August 2022 is Rs. 11,28,65,890/- (Rupees Eleven Crore Twenty Eight Lakh Sixty Five Thousand Eight Hundred and Ninety Only) divided into 2,25,73,178 (Two Crore Twenty Five Lakhs Seventy Three Thousand One Hundred and Seventy Eight) equity shares of Rs.05/- (Rupees Five only) each. The Post Bonus paid up Share Capital shall be Rs. 16,92,98,835/- (Rupees Sixteen Crore Ninety two Lakh Ninety Eight Thousand Eight Hundred and Thirty Five) divided into 3,38,59,767 (Three Crore Thirty Eight Lakh Fifty Nine Thousand, Seven Hundred and Sixty Seven) equity shares of Rs.05/- (Rupees Five only) each," said the company in a stock exchange filing.

In order to determine the eligibility of shareholders for the purpose of bonus shares, today the company informed the stock exchanges by saying that “In continuation of our intimation on outcome of the Board Meeting held on August 03, 2022, pertaining to the recommendation of Issue of Bonus Shares, the Company has fixed the ‘Record Date’ i.e., Wednesday, September 21, 2022 to determine eligible shareholders entitled to receive Bonus shares as approved in the 04th Annual General Meeting (AGM) of the Company held on August 26, 2022."

MINT PREMIUM See All

The shares of Alphalogic Techsys Ltd closed today at ₹52.00 apiece level, down by 0.76% from the previous close of ₹52.40. In the last 1 year, this penny stock has gained 60.99% and on a YTD basis, the stock has gained 14.54%. For the quarter ended June 2022, the company recorded a promoter shareholding of 74.92% which is much higher than its peers such as Affle India, Coforge, Persistent Systems, Oracle Financial Services Software Ltd, L&T Technology Services Ltd, Mphasis and Tata Elxsi. In addition, the company's price-to-earnings ratio (P/E) of 97.01 is much higher than that of its cited competitors, which may indicate that a stock is overvalued considering its market price in relation to its earnings.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.