240% Gain In 4 Months of Listing; Multibagger Stock Declares 1:1 Bonus Shares

A small-cap firm in the capital goods sector is Alphalogic Industries. The company is an ISO and BIFMA-certified storage solution manufacturing company and has a presence across India. The company offers business solutions to the automobile, library, food, logistics, engineering, and pharmaceutical industries as well as to educational institutions, IT firms, and other businesses.

On July 14, 2023, the stock went public on the BSE. Since then, it has gone up by almost 240%. Apart from generating multibagger returns so far, what's more exciting news for the market watchers is the company has announced bonus shares.

The Board Meeting of the company which was held today, October 18, 2023, made a "Recommendation of issuance of fully paid-up Bonus Share in the ratio of 1:1 i.e. 1 (One) Equity Share for every 1 (One) fully paid-up Equity Shares of Rs 10/- each, subject to approval of the shareholders of the Company and appropriate authorities. The record date to determine entitlement of eligibility of shareholders for Bonus Shares is fixed on Friday, 24th November, 2023," said Alphalogic Industries in a stock exchange filing.

"The Pre-Bonus paid up Share capital as on 18th October 2023 is Rs. 5,09,46,000/- (Rupees Five Crores Nine Lakhs and Forty-Six Thousand Only) divided into 50,94,600 (Fifty Lakhs Ninety Four Thousand Six Hundred Only) equity shares of Rs. 10/- (Rupees Ten only) each. The Post Bonus paid up Share Capital shall be Rs. 10,18,92,000/- (Rupees Ten Crores Eighteen Lakhs Ninety-Two Thousand only) divided into 1,01,89,200 (One Crore One Lakh Eighty Nine Thousand Two Hundred Only)," said Alphalogic Industries in a regulatory filing.

The Board has also recommended increasing the authorized share capital of the company from Rs. 5,10,00,000/- divided into 51,00,000 equity shares of Rs. 10/- each to Rs. 11,00,00,000/- divided into 1,10,00,000 equity shares of Rs. 10/- each, subject to the approval of the shareholders.

The total number of securities of 50,94,600/- are proposed to be issued or the total amount for which the bonus securities will be issued.

Alphalogic Industries is an SME IPO of 1,341,600 equity shares of a face value of Rs 10 aggregating up to Rs 12.88 Crores. The issue which started the bidding process on July 3, 2023 and ended on July 6, 2023 was a fresh issue of 13.42 lakh shares. On Tuesday, July 11, 2023, the allotment for Alphalogic Industries' IPO was completed. On July 14, 2023, the shares were listed on the BSE SME platform. The IPO price for Alphalogic Industries was fixed at Rs. 96 per share.

On Thursday, the shares of Alphalogic Industries were trading at a 5% lower circuit level of Rs 326.10 apiece. The scrip hit a 52-week-low of Rs 95.60 on (21/07/2023) and a 52-week-high of Rs 368.00 on (18/10/2023).