Microcap Stock Recommends Bonus Shares, Fixes Record Date, Up 364.29% In 1 Year

Omfurn India Limited, a furniture home furnishing company, on Aug 22, 2023, recommended a Bonus Issue of One new equity share of Rs 10 each fully paid up for every Five existing Equity shares of Rs 10 each fully paid up.

The Board of Directors of the company has fixed a record date for the recommended Bonus Shares on Friday, Oct 06, 2023. The recommended Bonus Shares are subject to the approval of Shareholders.

Bonus Shares & Record Date

According to the regulatory filing by the Board of Directors of the company, "The Board of Directors at its meeting held on Tuesday, 22nd August, 2023 recommended Bonus issue of equity shares in the ratio of 1 (one) new equity share for every 5 (five) existing equity shares held by the shareholders of the Company as on the record date, subject to the approval of shareholders."

It added, "the purpose of ascertaining the names of equity shareholders entitled to Bonus Shares, the Board of Directors has fixed Friday, 6th October, 2023 as the Record Date pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The Bonus shares shall be allotted to the equity shareholders of the Company whose name appear in the records as on the record date."

In a separate filing, the company stated, "Subject to the approval of the members in the ensuing Annual General Meeting and appropriate authorities, the Board has considered, approved and recommended a Bonus Issue of (1) One new Equity Share of Rs. 10/- each fully paid up for every (5) Five existing Equity Share of Rs. 10/- each fully paid up held as on the Record date decided for this purpose. The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the issue and allotment of such Bonus Shares."

Stock Outlook & Market Cap

Shares on Thursday opened at Rs 78.95 apiece, currently trading 3.72% higher at Rs 78 apiece on NSE. The stock has gained 24.29% in 1 week, while in 1 month, it has gained 91.54%. The stock's 52-week high is Rs 78.95 apiece and the 52-week low is Rs 15.40 apiece on the NSE.

It gave 364.29% multibagger return in 1 year, and 666.17% multibagger return in 3 years. While in 5 years, it has given 237.14% positive return.

Omfurn India Limited is an NSE-listed microcap SME that operates in the Consumer Durable sector as a furniture home furnishing company. The company has a market cap of Rs 52.45 Crore.