Rs 10 Se Bhi Sasta Share: Jumbo 23:1 Bonus Plan Coming In 2026; Record Date Just Days Away

After declaring an enormous 23:1 bonus issue, one of the more aggressive corporate actions witnessed in the micro-cap space in recent times, a not widely known penny stock trading below Rs 10 suddenly attracted market attention.

Exchanges were notified by Magnanimous Trade & Finance Limited that the record date for identifying shareholders eligible for bonus shares had been set. The announcement will significantly increase the number of shares in circulation by offering investors 23 bonus equity shares for each fully paid-up share held.

This sub-Rs 10 penny stock is likely to be in the spotlight ahead of the record date because such high-ratio bonus announcements in low-priced stocks frequently generate more curiosity among retail investors.

For the purpose of 23:1 bonus shares, the Board of Directors of Magnanimous Trade & Finance has declared Friday, 2nd January 2026 as the record date.

The exchanges were notified by Magnanimous Trade & Finance Limited of the successful conclusion of its Extra Ordinary General Meeting (EGM), which took place at its registered office in Jaipur on December 15, 2025, and at which shareholders approved two important corporate actions.

The company's authorized share capital was approved to be increased from Rs 2.37 crore to Rs 23 crore, allowing for more financial flexibility, during the meeting presided over by Managing Director Kurjibhai Rupareliya. More significantly, a significant bonus issue was decided by shareholders in a 23:1 ratio.

After shareholders overwhelmingly approved a 23:1 bonus issue-one of the most aggressive bonus ratios seen in the microcap industry recently-Magnanimous Trade & Finance Limited delivered a spectacular corporate action. The company would greatly increase its equity base by issuing 23 bonus equity shares, each worth Rs 10, for each fully paid-up equity share held, in accordance with the EGM voting results.

Strong shareholder support and faith in management's approach are demonstrated by the resolution's 100% approval. In order to facilitate the bonus issue, the company has previously approved an increase in authorized share capital from Rs 2.37 crore to Rs 23 crore.

The paid-up equity share capital was Rs 95.14 crore with 9,51,468 equity shares before the bonus issue; after the bonus, it will increase to Rs 2,283.52 crore with 2,28,35,232 equity shares. The company would use Rs 2,15,15,640 from capital redemption reserves and Rs 19.73 crore from free reserves for carrying out this bonus issue. There are enough reserves as of March 31, 2025, comprising a surplus in the profit and loss account and Rs 21.88 crore in the capital redemption reserve.

Commenting on the share price target of Magnanimous Trade & Finance, A R Ramachandran, part time SEBI registered Research Analyst, Tips2trades said, "Magnanimous Trade stock price is bullish but also extremely overbought on the Daily charts with next resistance at 6. Investors should book profits at current levels as a Daily close below support of 5.38 could lead to a target of 4 in the near term."

Founded in 1985, Magnanimous Trade & Finance Ltd. is an Indian Non-Banking Financial Company (NBFC) that provides financial services and is registered with the RBI.

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