1:1 Bonus Issue, 1:2 Stock Split Approved: Mid Cap Stock To Soon Intimate Record Date

Non-Banking Financial Company (NBFC) sector company Capri Global Capital Limited informed after 10 pm on January 27, 2024 about approval of sub-division/split of equity shares of the company in the ratio of 1:2 and issuance of bonus share in the ratio of 1:1. The board of directors have yet to issue the record date for stock split and bonus share and stated about intimating it soon.

Meanwhile, the Board of Directors also gave approval to increase the authorized share capital of the company. Last trading price of Capri Global Capital shares on BSE is Rs 938.15 apiece with intraday fall of 1.73%. Capri Global Capital shares offered maximum return of 4211% in last 10-years. Check details below:

Capri Global Capital Approves Bonus Share: The BSE filing stated, "bonus issue of 1 (one) fully paid equity share for every 1 (one) fully paid equity share held by shareholders of the Company as on the record date. The Bonus issue of equity shares will be subject to approval by the Shareholders, and any others applicable statutory and regulatory approval."

Capri Global Capital Gives Nod To Stock Split: The company said in its regulatory filing, "sub-division/split of 1 (one) fully paid equity share of face value of ₹ 2 (Rupees Two only) each into 2 (two) fully paid equity shares of face value of ₹ 1 (Rupee One only) each held by shareholders of the Company, fully paid up by alteration of Capital clause of the Memorandum of Association of the Company. The split of equity shares will be subject to approval by the Shareholders, and any other applicable statutory and regulatory approval."

Capri Global Capital Approves Increase In Authorised Share Capital: The company BSE filing dated January 27, 2024 stated, "Board of Directors of the Company has accorded its approval to increase the Authorised Share Capital of the Company, subject to approval of the shareholders of the Company and to subsequently substitute the existing Clause V of the Memorandum of Association with the following clause:

"The Authorised Share Capital of the Company is Rs.200,00,00,000/- (Rupees Two Hundred crores only) divided into 100,00,00,000 (One Hundred Crores only) equity shares of Face Value of Rs.2/- (Rupees Two) each."

Capri Global Capital Issues Update On Insurance Business: The exchange filing of the company stated, "the Board of Directors of the Company has accorded its approval to amend the Main Object Clause of the Memorandum of Association of the Company to authorize the Company to carry on the business as a corporate agent to inter-alia, solicit and procure all kinds of insurance products/ services on behalf of various Insurance companies or as otherwise permitted and undertake incidental or ancillary activities as mentioned in the clause, subject to approval of the shareholders of the Company."

Capri Global Capital Limited Reschedules Earning Call Meeting: As per the BSE filing of the company dated January 27, 2024, "We wish to inform you that the company has scheduled an Earnings Conference Call on Wednesday, January 31, 2024 at 1:00 P.M (IST) to discuss Company's Q3 FY24 Earnings. Mr. Rajesh Sharma, Managing Director of the Company, Mr. Partha Chakraborti, Chief Financial Officer and other members of the Senior Management team will participate in the conference call. Invite for the conference call is attached for reference."

Earlier this month on January 16, Capri Global Capital Limited (CGCL) received a composite Corporate Agency license from the Insurance Regulatory and Development Authority of India (IRDAI) in December 2023 to distribute life, general, and health insurance products. CGCL is planning to leverage technology to revolutionize the way insurance products and services are delivered to customers."

The company is planning to use data analytics, artificial intelligence, and blockchain to deliver insurance solutions. This will enable CGCL to automate claims processing and customer support services thereby reducing the cost of operations while improving customer satisfaction, added the company's media release.

Capri Global Capital Stock Performance & Return: The 52-week high price of Capri Global Capital share on BSE is Rs 1048.40 apiece and 52-week low price is Rs 565.85 apiece, respectively. The company has a market capitalisation of Rs 19,347.94 crore. Capri Global Capital shares zoomed 11% in last 2-weeks, gained 22% in last 1-month, surged 32% in last 1-year, and gave shareholders return of 171% in last 3-years. In last 5-years, Capri Global Capital stock rose 667%.

Capri Global Capital Financials: The company recorded its net sales for the quarter ended September 30, 2023 at Rs 444 crore, up 65% from Rs 269.08 crore in corresponding quarter of last year. Its quarterly net profit rose to 47.72 crore in September 2023, up 16.87% as against Rs 40.83 crore in September 2022. Capri declared its EBITDA at Rs 230.95 crore in September 2023, up 47.65% as compared to Rs 156.42 crore in September 2022. The company declared a decline in its EBS to Rs 2.31 in September 2023 from 2.32 IN September 2022.

Disclaimer: The stock highlights the bonus issue, stocks split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.