Vertoz Advertising, a smallcap stock under the media and advertising basket and only listed on NSE, touched a 5% upper circuit on July 8th. The upper circuit generally means that there were several buyers in Vertoz on Monday but no sellers. This bullish trend comes after Vertoz which once traded above Rs 680, corrected to below Rs 40 due to the stock's adjustment to bonus issue and share split that turned ex-date last week. Congress Party leader Rahul Gandhi is among the biggest beneficiaries of the latest stock split and bonus issue.
Vertoz Advertising Share Price:
This media stock ended at Rs 37.85 apiece on NSE, freezing at its 5% upper circuit with a market cap of Rs 1,762.10 crore.
After ex-split and ex-bonus, Vertoz opened higher at Rs 37.75 apiece on Monday, witnessed a slight pullback to hit an intraday low of Rs 37.10 in the few minutes of the opening bell, before picking up the pace to get locked at its 5% upper circuit of Rs 37.85. After 9.21 am on Monday, Vertoz has witnessed only buyers.
The stock's 52-week high and low is at Rs 45.25 apiece and Rs 10.90 apiece respectively.
Vertoz announced details of the allotment of bonus shares on July 6.
Vertoz Advertising Stock Split:
Vertoz first turned ex-split on July 5. The stock sub-divided 1 equity share with a face value of Rs 10 each to ten smaller shares with a face value of Re 1 each. Accordingly, the stock split ratio is 1:10.
Vertoz Advertising Bonus Issue:
Soon after the stock split, the company also turned ex-bonus on July 5 for a bonus issue of 1:1 ratio. Meaning, the company will allot 1 free bonus share on every 1 existing equity share.
As per the regulatory filing on July 6, Vertoz said, the board of directors of the company has accorded its approval for the allotment of 42,61,50,000 Bonus Equity Shares of the face value of Re. 1/- (Rupee One only) each, fully paid-up as Bonus Equity Shares in the proportion of 1:1 i.e. 1 (One) Bonus Share of Rs. 1/- each for every 1 (One) existing Equity Share held to be credited as fully paid-up Equity Shares to the holders of the existing Equity Shares of the Company whose names appeared in the Register of Members or in the Register of Beneficial Owners maintained by the Company/ Depositories as on 05th July, 2024, i.e. the Record Date fixed for this purpose.
Further, Vertoz added that consequently, the paid-up Equity Share Capital of the Company has increased from Rs. 42,61,50,000/- (Rupees Forty-Two Crore Sixty-One Lakh and Fifty Thousand Only) divided into 42,61,50,000 Bonus Equity Shares of the face value of Re. 1/- (Rupee One only) each to Rs. 85,23,00,000/- (Rupees Eighty-Five Crore and Twenty-Three Lakhs Only) divided into 85,23,00,000 Equity Shares of the face value of Re. 1/- (Rupee One only) each.
It said the Bonus Equity Shares shall rank pari-passu and carry the same rights as the existing Equity Shares of the Company in all respects.
Vertoz Advertising Rahul Gandhi Shareholding:
As per the affidavit filed by Rahul Gandhi before the Election Commission of India, his shareholding before the stock split and bonus issue stood at 260 shares in Vertoz.
But thanks to the stock split and bonus issue, the number of shares held by Rahul has risen to 5,200 equities of Vertoz. How?
Taking the 1:10 stock split ratio, the 260 shares of Rahul Gandhi multiplied and jumped to 2,600 shares (260x10).
Then apply the 1:1 bonus issue, his 2,600 shares after the split ratio, will receive another 2,600 bonus shares, doubling his portfolio to 5,200 shares.
Excluding 260 shares from 5,200 shares, Rahul Gandhi gets an extra 4,940 equity shares due to a stock split and bonus issue by Vertoz.
Accordingly, Rahul Gandhi is among the biggest beneficiaries of Vertoz stock split and bonus issue.
Vertoz Advertising Management:
On July 6, Vertoz's board also approved the change in designation of Hirenkumar Shah from Whole-time Director to Managing Director with immediate effect.
Vertoz said, Hirenkumar Shah has completed his first year of Bachelor of Commerce from the University of Mumbai. He is also the Promoter of our Company and has been associated with us since May 02, 2014, and was appointed as a Whole-time Director for the first term on June 14, 2017. He has around 17 years of experience in the business and industry. He looks after the day-to-day operations and is responsible for setting forth the group strategy and vision. Before joining our Company, he was associated with several startup companies.
About Vertoz Advertising:
Vertoz is an AI-powered MadTech & CloudTech platform that offers Digital Advertising, Marketing and Monetization (MadTech) & Digital Identity, and Cloud Infrastructure (CloudTech) catering to Businesses, Digital Marketers, Advertising Agencies, Digital Publishers, Cloud Providers, and Technology companies.
Click it and Unblock the Notifications
Sign in with Google