Multibagger high promoter holding stock fixes record date for 8:1 bonus shares
Premium- Gretex Corporate Services Ltd. is a small-cap company with a market capitalization of Rs. 59.14 Cr
Gretex Corporate Services Ltd. is a small-cap company with a market capitalization of Rs. 59.14 Cr. It operates in the financial services industry. One of the top financial consulting companies in India, Gretex Corporate Service offers IPO, valuation, corporate advisory, and other financial services. Only one year after its IPO, the company announced its first bonus shares at an 8:1 ratio. The Board of Directors of the corporation has made the record date public in order to ascertain whether stockholders are eligible for bonus shares.
The company has said in a regulatory filing that “This is to inform that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, that the Company has fixed Tuesday, October 11, 2022 as the “Record Date" for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares in the ratio of 8:1 (i.e. issue of 8 (Eight) equity share for every existing 1 (One) equity shares held of ₹10/- as on the above mentioned record date)."
The company decided to issue 90,98,760 equity shares at a price of Rs. 10, for a total proposed issuance value of Rs. 9,09,87,600. The Bonus Shares will be credited or distributed by October 31, 2022, as per the company.
Pre- Bonus share capital: Authorised equity share capital of Rs. 1,20,00,000 /- having face value of Rs. 10 /- per share. The issued equity share capital will be of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share. Paid-up share capital of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share.
Post-Bonus Paid-up Share Capital expected to be around: Authorised equity share capital of Rs. 11,00,00,000 /- having a face value of Rs. 10 /-per share. The issued equity share capital will be of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share. Paid-up share capital of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share.
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The stock's last recorded trade on the BSE was on September 29 at a price of ₹520.00 per share. In the last 1 year, the stock has delivered a multibagger return of 151.21% and on a YTD basis, the stock has generated a multibagger return of 151.45% so far in 2022. On the BSE, the stock had touched a 52-week-high of ₹607.00 on (20/09/2022) and a 52-week-low of ₹160.00 on (29/03/2022), indicating that at the current price level the stock is trading 14.33% below the high and 225% above the low. For the quarter ended March 2022, the company recorded a promoter shareholding of 73.48% and a public shareholding of 26.52%. The promoter stake at the current level is much higher than its peers such as Computer Age Management Services, and Central Depository Services (India) Ltd.
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