Bonus shares: Multibagger stock Indo US Bio-Tech to trade ex-bonus after 250% rally in YTD
Bonus shares 2023: Shares of Indo US Bio-Tech Ltd are one of the multibagger stocks that Indian stock market has delivered in 2023. This small-cap stock with a market cap of ₹265 crore has given over 500 per cent return in last one year whereas in YTD time, it has risen from around ₹150 to ₹530 apiece levels, delivering to the tune of more than 250 per cent in this time. However, this is not the end for positional investors of the multibagger stock as the company board has declared bonus shares setting record date for issuance of bonus shares on 29th August 2023.
the bonus shares will be issued to the eligible shareholders in 1:1 ratio means one bonus share will be awarded to holding one equity share of the company on record date i.e. today. The multibagger stock informed Indian stock market bourses about issuance of bonus shares citing, "The Board of Directors at its meeting held on 7th July, 2023, recommended Bonus Issue of Equity Shares in the ratio of 1 new equity share of Rs.
10 each for every 1 existing equity share of Rs. 10 each held by the shareholders of the company as on the Record date subject to approval of the shareholders." The board of directors of the company had earlier fixed record date on 25th August 2023. However, they revised bonus shares record date to 29th August 2023.
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