Multibagger stock revises record date for 8:1 bonus shares: Do you own?
Premium- With a market valuation of ₹65.17 Cr, Gretex Corporate Services Ltd. is a small cap company that operates in the financial services industry
With a market valuation of ₹65.17 Cr, Gretex Corporate Services Ltd. is a small cap company that operates in the financial services industry. One of the top financial and consulting organisations in India, Gretex Corporate Service offers services in IPO, valuation, and corporate advisory. The Board of Directors of the company has revised the record date from October 11, 2022 to October 13, 2022 in order to determine the eligibility of the shareholders for the purpose of 8:1 bonus shares. For a total proposed issuance value of Rs. 9,09,87,600, the company agreed to issue 90,98,760 equity shares at a face value of Rs. 10. According to the firm, the bonus shares will be credited or distributed by October 31, 2022.
The company on Tuesday informed stock exchanges by saying that “In reference to earlier record date intimation dated October 01, 2022 for Issue of Bonus Equity Shares, this is to inform you that Company has revised the record date to Thursday, October 13, 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 Rs. 10/- as on the above mentioned record date). Accordingly, the revised record date i.e. Thursday, October 13, 2022 is in compliance with the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015."
Gretex Corporate Services Ltd. shares closed at Rs. 573.00 a piece on Tuesday, up Rs. 4.95% from the previous close of Rs. 546.00. The stock price climbed from ₹177.15 on August 13, 2021 to the current market price over the past two years, resulting in a multibagger return of 222.36% and an approximate CAGR of 79.92%. The stock price grew from ₹206.50 on October 6, 2021, to the current market price during the course of the last year, resulting in a multibagger return of 177.48% and an approximate CAGR of 178.16%. The stock has so far in 2022 produced a multibagger return of 177.08% on a YTD basis. On the BSE, the stock had made a 52-week-high of ₹607.00 on (20/09/2022) and a 52-week-low of ₹160.00 on (29/03/2022), implying that at the last traded price level the stock was seen trading 5.60% below the high and 258.12% above the low.
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