Up 157% in 1 year! Multibagger smallcap stock to trade ex-bonus this week
Mufin Green Finance will trade ex-bonus on Friday after announcing a bonus issue to equity investors in the proportion of 2:1. For every share investors hold, they will get additional two bonus shares as proposed by the company. The bonus issue from the company came just a month after the stock split in the proportion of 1:2.
The bonus issue will be issued out of the capital redemption reserve of the company, as of March 2023. The company has fixed July 7 as the record date for determining the eligibility of shareholders. The proposed bonus issue will be completed within 2 months from the date of approval of the Board subject to the shareholder’s approval.
A company issues bonus shares for its shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them.
The number of bonus shares you receive depends on the number of shares of the firm you already hold. All shareholders who own shares of the firm before the ex-date, which is determined by the firm, are eligible for additional shares. Mufin Green Finance is a pioneer in climate financing solutions in India.
The company provides loans for income generation through electric vehicles, charging infrastructure, and swappable batteries. It has disbursed more than Rs 300 crore to date towards electric vehicles. The shares of the company have delivered multi-bagger returns to investors in the last year period, rising 157%.
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