Small Cap IT Solutions Provider Stock To See Stock Split In August, Shares Up 5%

Leading IT solution provider company Variman Global Enterprise Ltd has announced record date for the purpose of stock split and soon after the stock also surged 5%. The company has a market capitalization of 328 crore. The IT solutions company offers solutions through software development, IT infrastructure solutions and distributing IT Hardware to clients and partners through aggressive market development and continuous improvement through agility.

Record Date: The record date is the date when the existing shareholder must own the stock to become eligible to get the new shares obtained by a stock split. Meanwhile, in case you happen to buy or sell shares between record date and effective date, then the right to new shares will transfer.

Check key details below:

1. Variman Global Enterprise Fixes Record Date For Stock Split

The board of directors in their BSE filing stated, "With reference to the subject cited, this is to inform the Exchange that the Company has fixed Friday, 12.08.2022 as record date for the purpose of determining sub-division/split of existing Equity shares face value of Rs. 10/- (Rupees ten) each to Re. 1/- (Rupee one) each."

2. Variman Global Enterprise Stock Outlook

Soon after the company declared the record date for stock split, the stock of the company gained 5% to close at Rs 181 apiece. The 52-week high is Rs 218 and 52-week low is Rs 25 apiece.

Multibagger returns: The stock has given multibagger returns with 3090% return in last 5 years, 2100% return in last 3 years, and 354% return in last 1 year.

3. About Variman Global Enterprise Ltd

Variman Global Enterprises Ltd is a 28 year old company listed on bombay stock exchange and has diversified businesses interests in IT Infrastructure Solutions, FMCG & IT Distribution and IT Software development. It acts as a strategic link between vendors to partners and clients, thus readying them for unprecedented levels of business performance by catering to SOHO, SMB, Mid size, Large Enterprises and Government Organizations across various industry verticals. The advantage with its services across Telangana lets its 800+ online & offline retailers, resellers and system integrators enjoy doing business at ease.