3:1 Bonus Issue, First Ever; Record Date - October 23; Real Estate Penny Stock Hits New 52-Week High; 165% Up

Grovy India, a penny stock engaged in the business of real estate, witnessed heavy buying on October 10, ahead of its first-ever bonus issue. The company will ex-date next week for rewarding 3 free shares on the existing 1 equity. Grovy India is a multi-bagger with gains of more than 165% from its 52-week low.

Grovy India Share Price:

On Thursday, the stock rallied to touch a new 52-week high of Rs 209.55 apiece. After market hours, the stock ended at Rs 209.45 apiece, up by 10% on BSE, with a market cap of Rs 69.83 crore.

The penny stock is up by 165.1% from its 52-week low of Rs 79 apiece. While its 5% upper circuit is at Rs 219.90 apiece, and low circuit is at Rs 199 apiece.

YTD, the stock rallied by over 92%. The stock's price-to-equity ratio is at 119.37x, while return on equity is at 3.10%.

Grovy India Bonus Issue:

The company is set to carry its first bonus issue of 3:1 ratio. It fixed Wednesday, 23rd October 2024 as the Record Date for the purpose of ascertaining the shareholders eligible for allotment of Bonus Shares in the ratio of 3:1, i.e. 3 (Three) Bonus Equity Shares of Re. 10/- each fully paid-up for every 1 (one) existing Equity Share of Re. 10/- each held as on the above-mentioned record date.

For Example: If an investor had 500 equity shares as of record date, they will receive 1,500 bonus shares, making their total number of shares to 2,000.

Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.

About Grovy India:

Grovy India limited was established in the year 1985, with a purpose of developing extraordinary real estate properties that would change the scenario of the construction industry. Equipped with teams of skilled and experienced engineers, architects, planners and designers Grovy has established itself as developers of 'Boutique Apartments'.

So far, Grovy India is active as one of the Top Builders in South Delhi with many luxury housings developed by its team. Due to the overwhelming response from our esteemed customers we have ventured into Delhi/NCR all the way to holy reverie of Rishikesh.