Brightcom Group shares edge up 5% at upper circuit levels 101 on BSE in early deals on Monday, ahead of its record date bonus share This week was issued on Wednesday, March 16, 2022 in the ratio of 2:3. The company had announced a proposal regarding issue of bonus shares, which was considered by its board on January 25.
“The Company has decided to fix Wednesday, March 16, 2022, as the record date to ascertain the eligibility of shareholders entitled to issue bonus shares. The proposed Equity Bonus will be issued in the ratio of 2:3 (two equity shares for every three equity shares held by the members), as recommended by the Board of Directors of the Company in its meeting held on January 25, 2022 to the members. ‘ approval,” Brightcom had announced in an Exchange filing.
The company has a reserve position 3,655 crore on the capital of 208 crores. It had said that this aspect gives us sufficient space to encash the reserves and distribute part of those reserves by way of issue of bonus shares.
“As Brightcom’s stock has grown manifold over the past 12 months, it has now reached levels that may be out of reach for many small investors. The issuance of bonus shares will allow new, incoming members of our shareholder list will be more affordable for the market,” the company had added.
Brightcom Group shares have delivered multibagger returns of over 1,318% in the one-year period, trading approx. 7 to currently hovering 101 per share. Multibagger stock has gained more than 184% in the past six months alone, however, is down 40% so far in 2022 (year-to-date or YTD).
Brightcom Group is a digital marketing company as it consolidates Ed-Tech, New Media and IoT based businesses around the world. The company’s global presence includes the US, Israel, Latin America ME, Western Europe and Asia Pacific regions.
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