Small Cap Education Stock Announces 1:1 Bonus Share, Revenue Gained By 53%

CL Educate Ltd declared to issue bonus shares in the ratio of 1:1, after the board meeting. The share price of the company closed at Rs. 157.90 a piece on NSE.

The company informed the stock exchanges that the company has "Approved and recommended a Bonus Issue of Equity Shares in the Ratio of 1:1 i.e. 1 (One) Equity Share of Rs. 5/- (Rupees Five only) each be issued for every 1 (One) existing Equity Share of Rs. 5/- (Rupees Five only) each held by the Shareholders of the Company, as on the Record Date, subject to the approval of Shareholders in compliance with the applicable laws."

Stock performance

The stock has surged by 8.93% in the past 1 month, and surged by 11.08% in the last 6 months. The 52-week high level of this stock is Rs. 190, and the 52-week low level of this stock is Rs. 92.55. This small-cap company has a market capitalization of Rs. 442 crore.

CL Educate Ltd informed that its revenue increased by 53% YoY to Rs. 161.6 crore in Q2 FY 23, from Rs. 106.0 crore in the year-ago quarter. Additionally, Total Comprehensive Income (TCI) gained by 177% YoY.

In a release to the stock exchanges, the company also declared that it has "Approved an increase in the Authorised Share Capital of the Company from Rs. 27,28,00,000 comprising of 5,45,60,000 Equity Shares of Rs. 5/- each to Rs. 40,00,00,000 comprising of 8,00,00,000 Equity Shares of Rs. 5/- each, and consequent Alteration to the Capital Clause of the Memorandum of Association of the Company, subject to the approval of Shareholders in compliance with the applicable laws.

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