2:1 bonus shares, 1:10 stock split: Shares of Sarveshwar Foods Ltd are of the multibagger stocks that Indian stock market has delivered in recent years. This small-cap stock is one of those stocks that has delivered whopping return to its positional shareholders in post-Covid rebound. After bottoming out at ₹8.45 in April 2020, this small-cap multibagger penny stock has surged to the tune of ₹124 apiece levels, delivering around 1,350 per cent return to its shareholders. However, this is not the end of cheer for this multibagger shareholders. The small-cap stock has declared issuance of bonus share and stock split. The board of directors of the small-cap company has declared bonus shares in 2:1 ratio whereas stock split in 1:10 ratio. On Thursday, the company board set record date for bonus shares and stock split on 5th September 2023 as well.
The multibagger stock informed about bonus share and stock split record date citing, “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 in the Extra-ordinary General Meeting held on August 24, 2023, the Board of Directors vide resolution by circulation dated August 24, 2023 has fixed, Tuesday, September 05, 2023 as the “Record Date” for the purpose of; a) Sub-division of face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up and; b) ascertaining the eligibility of securityholders entitled for issuance of Bonus Equity Shares of the Company in the ratio of 2:1 i.e. 2 (Two) Equity Shares for every 1 (One) Equity Shares having a face value of Re. 1/- (considering the post sub-division/split of face value of equity shares).”
Sarveshwar Foods share price history
In last one month, this multibagger stock has surged to the tune of 20 per cent whereas in last six months, this small-cap stock has risen from around ₹84.50 to ₹124 apiece levels, logging near 50 per cent appreciation in this time. Likewise, in YTD time, this multibagger stock has surged from near ₹88.50 to ₹124 per share levels, delivering more than 40 per cent rise in this period. In last one year, Sarveshwar Foods share price has ascended from around ₹49.50 per share levels to ₹124 per share levels, logging near 150 per cent rise in this time.
However, in post-Covid rebound, this small-cap stock ascended from around ₹8.45 per share to ₹124 levels, delivering near 1,350 per cent return to its shareholders in these near three years.
This multibagger stock is available for trade on both NSE and BSE. It ended on Thursday with a market cap of ₹404 crore and its trade volume on Thursday was 42,660, which is much lower than its 20 days average trade volume of 2,40,510. Its 52-week high is ₹138.45 whereas its 52-week low is ₹43.05 apiece.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Download The Mint News App to get Daily Market Updates.
Updated: 25 Aug 2023, 08:36 AM IST