Upcoming Stock Split: 1 Multibagger Penny Stock To Be Sub-Divided Into Ten New Shares; Ex-Split Date This Week

Growington Ventures India is a penny stock with a market cap of Rs 291.41 crore, is going to turn ex-split for a stock split in the ratio of 1:10. Growington is a multi-bagger trading a little over Rs 180 and has risen by over 256% in a year. In 5 years, Growington's share price has skyrocketed by 1,535%.

Last week, on BSE, Growington's share price stood at Rs 181.50 apiece, up by 1.20% on January 25, 2024. The stock has a 52-week high and low of Rs 236 apiece and Rs 44.09 apiece respectively.

The stock is only listed on BSE.

Growing on shares have declared a stock split of 1:10 ratio -- which means that --- every 1 existing equity share having a face value of Rs 10 each, fully paid-up -- will be sub-divided into ten new equity shares having a face value of Re 1 each.

For this, the company will turn ex-split on January 31, 2024, which is also the record date for determining the eligibility of Shareholders for sub-division.

Investors who will buy Growington shares after January 31st will not be eligible for a stock split.

Recently, in January, Growington expanded its footprint. Its wholly-owned subsidiary Elementures Foodstuff Trading L.L.C, Dubai, U.A.E which is engaged in sourcing of fresh fruits from Turkey, Vietnam and South Africa, has made arrangements and tie up with agri commodity company based in Vietnam for a regular supply of Dragon fruits, Coconut, Guava, Lime and other agri product from 1st quarter of Calendar year 2024.

The main object of company is established for trading in various food products ranging from fresh fruits, dates, foods and Beverages, spices dried fruits and vegetables like potatoes Etc.

The Company constantly make an effort to add more value to its products and services, thereby providing ultimate customer satisfaction.

Growington Ventures India Limited (Previously known as VMV Holidays Ltd.) marked the completion of 13 years since the date of its incorporation i.e. August 03, 2010, under the Companies Act, 1956 having its registered office in Navi Mumbai, State of Maharashtra. During the year the Company has diversified its main business activities towards trading in import - exports and wholesale of fruits and other agro-products etc. This will give us more verticals to service our valued clients and improve market hold.

Growington said on January 3, 2024, in its filing, "We will provide this product on a worldwide basis and aim to emerge as a global import-export trader. We focused on covering the maximum possible locations by expanding our network of our own offices and agents."

The company gets associated with agents by entering into agency agreements with fixed terms to have limited cost and better revenue for handling our import and export operations in India, Indian Subcontinent, South Africa, Turkey, Gulf, Upper Gulf, South East Asia like Vietnam and Thailand and the Far East etc. so that we have worldwide coverage in cost-effective manner.

A stock split will make Growington's share price cheaper than its current market price.

Typically, listed companies declare a stock split of already owned shares into much smaller shares. The move is carried out to improve liquidity by breaking the shares into smaller sizes. The face value of the shares reduces in proportion to the split ratio. Notably, there is no impact on the company's share capital and reserves. Although the price value of a stock reduces in a stock split, it the number of shares held rises in the investors' portfolio of that specific stock.