Multibagger stock sets record date for 6:11 bonus shares, 1:10 stock split
Bonus shares, stock split record date: Lorenzini Apparels share price has registered a whopping return in 2024. In year-to-date (YTD) time, this small-cap stock with a market cap of around ₹390 crore has surged from ₹239.50 to ₹380 apiece levels on NSE, logging near 60 percent appreciation in this time.
In the last one year, this small-cap stock has delivered multibagger returns to its shareholders as it has risen to the tune of 350 percent in this time. This multibagger stock is in the news today as the board of directors of the small-cap company has fixed 27th March 2024 as the record date for finalizing eligible shareholders for issuance of bonus shares and stock split.
The company has declared bonus shares in a 6:11 ratio whereas the board has declared a stock split in a 1:10 ratio. The small-cap multibagger stock informed Indian stock market exchanges about the corporate development saying, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that pursuant to the shareholders' approval obtained through the Postal Ballot process on March 14, 2024, the Board of Directors in their meeting dated March 15, 2024, has fixed Wednesday, March, 27th 2024 as the "Record Date" for the purpose of; A) Sub-division of the face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid up Equity Shares of the nominal value of Rs.
10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of the nominal value of Re. 1/-(0ne Rupee) each fully paid-up and; B) Ascertaining the eligibility of security holders entitled for issuance of Bonus Equity Shares of the Company in the ratio of 6:11 i.e.
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