First Ever 1:10 Stock Split Of Penny Stock After 4:1 Bonus Issue; Media Company Makes Big Update

Digital entertainment company, Bodhi Tree Multimedia has incorporated a new subsidiary ahead of splitting into 1:10 ratio. This will be the company's first-ever split after it carried a 4:1 Bonus Issue and paid 3 dividends. The newly incorporated firm is expected to leverage growth opportunities. Following this, Bodhi Tree's share rallied nearly 8% in a single day.

Bodhi Tree Multimedia Share Price:

On BSE, Bodhi Tree's share stood at Rs 178.45 apiece, up by 7.02% with a market cap of Rs 222.99 crore, making it a penny stock.

The stock's 52-week high and low are at Rs 235.00 and Rs 122.70 apiece respectively. Its 20% upper circuit and lower circuit limits are at Rs 214.10 and Rs 142.80 apiece respectively.

Bodhi Tree Multimedia Big Announcement:

On April 1, Bodhi Tree informed exchanges that the Ministry of Corporate Affairs has approved the incorporation of a subsidiary of the company namely MJ Creative Studio Private Limited on 30th March 2024.

Bodhi said, "The incorporation of the subsidiary will leverage the growth opportunities in the evolving digital
media and entertainment space and will help the Company in becoming more customer-focused."

Accordingly, the subsidiary company is incorporated in India to carry out business in the field of media and entertainment. The authorized share capital is at Rs 1 lakh. Notably, 51% subscription to the Share Capital in
cash.

Bodhi Tree Multimedia Stock Split:

Bodhi shares are going to split into a 1:10 ratio later in the week. The company fixed Friday, April 5, 2024, has the record date for subdivision/Split of the equity shares of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each to 10 (Ten) equity shares having face value of Rs. 01/- (Rupees One only) each.

This will be Bodhi's first-ever stock split. The company so far has paid one bonus share in the ratio of 4:1 in September 2022 and delivered 3 dividends since January 2021.

About Bodhi Tree Multimedia:

The company has been at the forefront of creating differentiated & edgy content through its distinct lineup shows. Its gamut of activities covers content production for television, films and digital platforms.

It has produced a robust line of more than 30+ shows since its inception across most major Broadcasters & OTT platforms. Also, it has produced more than 1500+ hours of content on Television and OTT.

Notably, the company's shows have encompassed all genres - drama, thriller, horror, comedy and lifestyle. The company has produced shows across multiple languages - Hindi, Tamil, Marathi, Gujarati and Bengali.