Multibagger Stock: Hardwin stock is one of the multibagger stocks produced by the Indian stock market in recent years. The Board of Directors of this small-cap company has recommended issuance of 1:2 bonus shares, subject to the approval of the shareholders and members of the company. This bonus share will be the icing on the cake as the multibagger stock has delivered over 83 per cent returns to its shareholders in 2022. It more than doubled shareholders’ money this year when it hit a 52-week high. 271.05 each level on the NSE in June 2022.
Informing about the bonus share issue, Hardwin India Limited said, “With reference to the above subject matter and in accordance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the Board of Directors of the Company in its meeting held on Monday the 13th June, 2022, inter alia along with issuance of bonus shares in the ratio of 1:2. [i.e. 1 (One)] Fully paid-up equity shares to shareholders for every 2 (two) equity shares as may be determined by the Board of Directors of the face value to shareholders on such date (record date) 10/- (Rupees ten) each subject to the approval of the members of the company and other approvals, consents, permissions, conditions and restrictions, as may be necessary.”
board of directors of multibagger stock also approved the increase in the authorized share capital of the company from 10,25,00,000 (Rupees Ten Crore Twenty Five Lakh) divided into 1,02,50,000 (One Crore Two Lakh Fifty Thousand) Equity Shares 10 (ten rupees) each 15,60,00,000 (Rupees fifteen crore sixty lakh only) 1,56,00,000 (one crore fifty six lakh) divided into equity shares By creation of 53,50,000 (Fifty Three Lakh Fifty Thousand) equity shares in addition to 10 (Ten) each 10 (rupees ten) each and consequent amendment in clause V of the Memorandum of Association of the company, subject to the approval of the shareholders of the company.