Veerkripa Jewelers Limited is a SME IPO having a market capitalization of 106.78 Crore and the company operates in the consumer discretionary sector. The company, which manufactures and trades in various types of gold and silver jewellery, has announced two separate corporate actions: bonus shares and stock split. The Board considered and authorized the issue of Bonus Shares in the ratio of 2:3 as well as split of 1 Equity Share with face value of Rs. 10/- each in 10 equity shares with a face value of Rs. 1 per share.
Veerkrupa Jewelers said in a stock exchange filing that “the board has considered issue of bonus shares to the shareholders in the ratio of 2 bonus shares for every 3 existing shares held and also approved the split of 1 (one) equity share of nominal value” of Rs. 10/- (Rupees Ten) each into 10 (Ten) Equity Shares of Rs. 1/- (Rupee One) each subject to necessary permissions and approvals.”
Veerkripa Jewelers is an S&P BSE SME IPO listed on BSE on 18-07-2022 at Issue Price of 27 per equity share and since then it has risen to the present level 135.80 logging an all-time high of 429.43%. On February 8, a day before the results of its board meeting regarding splits and bonuses, it hit a 52-week high of Rs. 136 per equity share. The stock has gained 59.76% YTD in 2023, and during the last six months, it has given multibagger returns of 125.39%. The stock has gained 23.57% during last month and 10.00% during last five trading sessions.
Veerkrupa Jewelers annual revenue soared 164.7% in the last year 12.3 crores. During the last financial year, its sector average revenue growth was 17.8%. Additionally, it has a respectable debt-to-equity ratio of 0.1, which is well below 1. Development of its business strategies.
The debt-free company also plans to grow and branch out in important metros to widen its customer base. Huge gold reserves are also held by the corporation and the same is used only for making jewelery for its customers. The highest recovery from its 52-week low was recently achieved by Veerkripa Jewelers stock, which successfully crossed its third resistance level on Wednesday. Shares of Veerkripa Jewelers Ltd. closed at the upper circuit limit of 5% on BSE today. 135.80. The stock registered a total volume of 1,20,000 shares. Veerkripa Jewelers SME IPO Rs. 65.58 Cr was opened for subscription from 29th June to 8th July 2022 through a fresh issue.
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