Multibagger Small Cap Pharma Stock Recommends 4:5 Bonus Shares, Jumps 586.47% In 1 Yr

Small cap Pharmaceuticals company, Jeena Sikho Lifecare Limited in a meeting of the Board of Directors of the company on Monday, Sept 25, 2023, considered, approved, and recommended for Bonus Issue of Equity Shares in the ratio of 4:5.

In particular, 4 Bonus Equity Share fully paid‐up of Rs 10/‐ each for every 5 existing Equity Shares of Rs 10/‐ each. The record date for determining the eligibility of the shareholder will be intimated separately in due course.

The Board of Directors of the company in an exchange filing said, "Subject to the approval of Shareholders and such other regulatory and governing authorities including the National Stock Exchange of India Limited ("Stock Exchange"), as may be required and in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder and Chapter XI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, ("SEBI ICDR Regulations") and other applicable laws, regulations; the Board of Directors has considered, approved and recommended for Bonus Issue of Equity Shares in the ratio of 4:5, i.e., 4 (four) Bonus Equity Share (fully paid‐up) of Rs. 10/‐ each for every 5 (five) existing Equity Shares of Rs. 10/‐ each, held by the Shareholders in the Company, as on the record date."

Further, "The Record Date for determining the entitlement of the Equity Shareholders w.r.t the Bonus issue shall be intimated separately in due course. The Bonus Shares, once allotted shall rank pari‐passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted."

Meanwhile, Jeena Sikho Lifecare shares on NSE trading at Rs 1,040 apiece, down 0.95% from its previous close of Rs 1,050 apiece. At the time of writing, it has hit day's high and low at Rs 1,084.80 and Rs 1,030, respectively. The stock was opened at Rs 1,084.80 apiece.

The stock surges 0.4% in 1 week, however, it declined 6.83% in 1 month. It gave 127.65% multibagger return in 3 months and 586.47% multibagger return in 1 year.

The stock hit 52-week high at Rs 1,220 apiece a nd 52-week low at Rs 140 apiece. Its has a market cap of Rs 1,450.18 Crore.

Disclaimer- The stock just highlights the Bonus Shares 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.