Multibagger Stock Hit 52-Week-High As Board Recommends 1:1 Bonus Shares

On Wednesday's closing session, Kamdhenu Ventures, a small-cap consumer discretionary company, registered a market valuation of Rs 887.11 Cr. After the Board of Directors recommended bonus shares in a 1:1 ratio, the stock rose to a new 52-week high of Rs 286 on the BSE during the afternoon session after opening at Rs 260.95.

"The Board of Directors has considered, approved and recommended a Bonus Issue of 1 (One) Bonus Equity Share (fully paid‐up) of Rs. 5/‐ each for every 1 (One) existing Equity Shares of Rs. 5/‐ each, held by the Shareholders in the Company, as on the record date. The Record Date for determining the entitlement of the Equity Shareholders w.r.t the Bonus issue shall be intimated separately in due course. 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 new equity shares are allotted," said Kamdhenu Ventures in a stock exchange filing on Wednesday.

3,14,35,500 of face value of Rs. 5/‐ each is the total number of securities proposed to be issued as a part of bonus shares and Rs. 15,71,77,500 will be utilized from the securities premium account for implementing the bonus issue. Two months from the date of the board meeting i.e. on June 28, 2023, the issuing of bonus shares will be completed, according to Kamdhenu Ventures.

On Wednesday, the shares of Kamdhenu Ventures closed on the BSE at Rs 282.20 apiece up by 9.70% from the previous close of Rs 257.25. The stock made a 52-week-high of Rs 286.00 on (28/06/2023) and a 52-week-low of Rs 125.60 on (14/02/2023), indicating that at the current market price, the stock is trading 124.68% above the 1-year low and 1.32% below the recent 1 year high. During Q4FY23, the firm reported that promoters held a 58.74% stake in the company, FIIs held 0.31%, DIIs held 0.02%, and the public as a whole held 40.94%.