Stock Split: IT Penny Stock Below Rs 90, Hits Upper Circuit On Plans Of 1st Ever Split; Board Meet On July 18

Onesource Ideas Venture, a consulting services provider, is a penny stock trading on the Indian stock market. On BSE, this penny stock is below Rs 90 and touched a 5% upper circuit on Tuesday ahead of its board meeting where it is likely to consider splitting its shares for the first time. This penny stock has also witnessed double-digit growth in a month.

Onesource Ideas Venture Share Price:

Onesource share price ended at Rs 86 apiece, at 5% upper circuit on July 16 with a market cap of Rs 26.45 crore. The stock is near its 52-week high of Rs 94.50 apiece, while its 52-week low is Rs 51.60 apiece.

In the 5-trading session, the stock zoomed by nearly 25% on BSE, while in a month, the gains were around 37%. YTD, the stock is up by 34%, and its long-term such as 5-year performance makes the stock multi-bagger with gains of a whopping 362%.

Onesource Ideas Venture Stock Split:

As per the regulatory filing, Onesource stated that a Meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 18th July 2024, to transact the following business apart from the other items as per the agenda:

1. To consider and approve the proposal of Sub- Division /Split of the Equity Shares of the Company in such manner as may be determined by the Board of Directors and subject to the approval of the Shareholders and such authorities as may be required under Section 61 of the Companies Act, 2013.

2. To Consider an Increase in the Authorized Share Capital of the Company.

3. To Consider alteration in the Memorandum and Articles of Association of the Company including alteration of the Main Object Clause of the Company.

4. Shifting of the Registered Office of the Company.

5. Any other matter with the permission of the Chair

Share splits mean that listed companies can split their existing shares into a ratio they decided on for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.

There are a few very popular stocks split. They are 1:10, 1:5, 1:2, and 1:1. But it is up to the listed companies to decide their stock splits ratio.

About Onesource Ideas Venture:

Onesource Ideas Venture Limited operates as a financial and corporate advisory company. The Company offers investment banking services, including mergers and acquisitions, business and financial restructuring, turnaround strategies, acquisition finance, strategic management, foreign collaborations, business viability studies, internal audit, and regulatory compliance services.

The company takes a collaborative approach to investing, working closely with founders and management teams to unlock potential and drive sustainable growth. Through strategic guidance, operational expertise, and access to our extensive network, Onesource helps companies navigate challenges and capitalize on opportunities.