Small-cap firm Growington Ventures India Limited operates in the Commercial Services industry and has a market capitalization of 96.41 crores. The company is involved in import and export of fruits. The company on Friday said the board of directors has approved the issue of bonus shares in the ratio of 24:100.
Growington Ventures India said in a stock exchange filing that the board of directors has approved “1. Increase in the existing authorized share capital of the company from Rs. 13,20,00,000/- (Rupees Thirteen Crore Twenty Lakh Only) divided into 1,32,00,000 (Rupees One Crore Thirty Two Lakh) Equity Shares of Rs.10/- (Rupees Ten Only) each up to Rs.16,20,00,000/- ( Rupees Sixteen Crore Twenty Lakh Only) divided into 1,62,00,000 (One Crore Sixty Two Lakh) Equity Shares of Rs. 10/- (Rupees ten only) for each and subsequent alteration in the Memorandum of Association of the company, subject to the approval of the shareholder; 2. Issuance of fully paid-up Bonus Shares in the ratio of twenty-four (24) fully paid-up shares for every hundred (100) fully paid-up shares held, subject to shareholder approval.
The free reserve and/or share premium required to effect the bonus issue is Rs. 3,07,68,960 and the estimated date by which such bonus shares will be credited/dispatched is March 28, 2023, according to Growington Ventures India.
Shares of Growington Ventures India closed on BSE on Friday 75.20 each after hitting a 52-week high 82.90, up 0.40% from its previous close 74.90. The stock recorded an average volume of 65,000 shares and an average deliverable volume of 45,000 shares, while the deliverable volume stood at 69.23% of the traded volume.
share price exceeded 14 from the current market price during the last five years, resulting in multibagger returns of 448.91%. share price climbed 29.60 at the current market price during the last three years, resulting in multibagger returns of 154.92%. share price increased from 12.90 at the current market price in the last one year, resulting in multibagger returns of 482.95%.
The stock has appreciated 11.76% YTD so far in 2023 and 28.18% in last six months. The stock reached a 52-week low at 11.24 (16/03/2022), indicating that after hitting a new 1-year high on Friday, the stock was seen trading up 569.03% from its 1-year low. Growington Ventures India holds promoter stake of 43.12% and public holding of 56.88%.
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