Multibagger IT Stock Sets Record Date For 17:20 Bonus Shares: Do You Own?

In the IT industry, Olatech Solutions Ltd. is a small-cap company. Olatech Solutions Limited offers trustworthy IT solutions in the domains of digital marketing, telecom, data centre, enterprise, and IT software. Olatech Solutions is a Public Limited company with ISO 9001:2015 certification that is also registered with the MSME and the Government of India's Startup India Initiative.

The company works in the OSS - BSS (Operations Support System and Business Support System) segment, providing data centre, enterprise, telecom, and IT software solutions. The company has declared 17:20 bonus shares and for the purpose of the same record date has also been announced.

"Please note that the Members of the Company have approved the issue of Bonus Shares in the proportion of 17 (Seventeen) Bonus Equity Share of Rs. 10/- (Rupees Ten Only) each, for every 20 (Twenty) fully paid-up Equity Shares of Rs. 10/- (Rupees Ten Only) each, existing Equity Share held by the Members and that the Bonus Shares so distributed shall, for all purpose, be treated as an increase in the paid-up capital of the Company. We further wish to inform that the Board of Directors of the Company have approved and fixed 20th November, 2023 as the Record Date for the purpose deciding the Members who shall be eligible to the allotment of the Bonus Shares as per ratio mentioned above by capitalization of such as may be required, from the Securities Premium Account, Free Reserves or any other permitted reserves/ surplus of the Company for the purpose of issue of Bonus Shares of Rs. 10/- (Rupees Ten Only) each, credited as fully paid-up to the holders of the Equity Shares of the Company, whose names appear on the Register of Members on the Record Date of 20th November, 2023. The fully paid-up Bonus Shares shall be distributed to the Members of the Company, whose names appear on the Register of Members as on 20th November, 2023, of the Company. The Bonus Shares so allotted shall rank pari-passu in all respects with the fully paid-up Equity Shares of the Company as existing on 20th November, 2023," said Olatech Solutions in a stock exchange filing.

The company has posted a net revenue of Rs 7.47 Cr in FY23 compared to Rs 2.62 Cr in FY22. Its net expenses stood at Rs 5.82 Cr in FY23 as against Rs 2.15 Cr in FY22. Olatech Solutions said its net profit stood at Rs 1.19 Cr in FY23 compared to Rs 0.35 Cr in FY22. The company's EPS reached Rs 0.51 in FY23 which was Rs 2.13 in FY22.

On Wednesday, the shares of Olatech Solutions were trading on the BSE at Rs 182.70 apiece during the morning deals. The scrip hit a 52-week-high of Rs 234.95 on (12/10/2023) and a 52-week-low of Rs 75.00 on (24/03/2023). The stock has risen 256% in the previous three years and produced a multibagger return of 193.49% in the last five years. The stock has gone up by 57% over the past year and by 90% year-to-date.