112% Rally YTD: Multibagger Stock Revises Record Date For 1:3 Bonus Shares

With a market valuation of Rs 281 Cr, Alphalogic Techsys Ltd is a small-cap company in the IT industry. One of Dalal Street's multibagger stocks, Alphalogic Techsys has rewarded its shareholders with a 112% YTD gain. However, the business has made an interesting announcement in addition to being a multibagger stock. Alphalogic Techsys announced a 1:3 bonus share ratio and set Friday, December 15, 2023, as the record date. However, the company went on to change this date to December 22, 2023.

"In continuation to our communication dated 07th December, 2023, informing the fixation of Record Date of Friday, December 15, 2023, we would like to inform you that the company is yet to receive the In principle approval for Bonus Issue and due to technical issue, the company has decided to revise the record date. The revise record date to determine entitlement of eligibility of shareholders for Bonus Shares shall be Friday, 22nd December, 2023," said Alphalogic Techsys in a stock exchange filing on Monday.

The Board of Directors in their meeting held on 07th November, 2023 announced a "Recommendation of issuance of fully paid-up Bonus Share in the ratio of 1:3 i.e, 1 (One) Equity Share for every 3 (Three) fully paid-up Equity Shares of Rs 05/- each held to the eligible members of the Company holding equity shares of the Company, including warrants holders holding 12,17,000 convertible warrants pending for conversion and convertible into 12,17,000 number of equity shares of Rs. 5/- each, subject to approval of the shareholders of the Company and appropriate authorities," as per a regulatory filing.

The company also increased the authorized share capital from Rs. 21,00,00,000/- divided into 4,20,00,000 equity shares of Rs. 05/- each to Rs. 26,00,00,000/- divided into 5,20,00,000 equity shares of Rs. 05/-. In the last 1 year, the stock has generated a multibagger return of 117.87% and on a YTD basis, the scrip has generated a multibagger return of 112.66%. Alphalogic Techsys shares on Tuesday opened at a 2% upper circuit limit of Rs 79.96 apiece on BSE. The scrip reached a 52-week-high of Rs 80.00 on (22/11/2023) and a 52-week-low of Rs 25.03 on (28/03/2023).