This SME Stock Rallied By 671.17% In 3 -Years, The Company Approves Issuing Bonus Shares

The share price of Sprayking Agro Equipment Ltd has rallied whoppingly by 671.17% in three year to Rs 102. 18 per share. The company directors met on March 16, 2023 to discuss and approve issuing bonus shares, and later filed its approval with the exchange. Given below are the details.

The company through the exchange filing informed the outcome of the decision made by the board in the meeting held today. "The board of directors of the company considered and approved the issue of bonus shares in the ratio of 2:3 i.e. 2 new fully paid equity shares for every 3 existing fully paid-up equity share of Rs 10 each held by the shareholders subject to approval of shareholders through postal ballot. If equity shares being fractional shares will be ignored and no allotment will be made for the fractional equity shares."

The pre bonus issue paid up capital is Rs. 6,34,07,690/- consisting of 63,40,769 equity shares of Rs. 10 each and post bonus issue paid up capital shall be upto Rs. 10,56,79,483 consisting of existing 63,40,769 equity shares plus bonus shares upto 42,27,179 equity shares of Rs. 10 each.

Plus the securities premium available for capitalization is Rs 1750.56 lakhs, also the estimated date by which such bonus shares would be credited/dispatched is 04th May, 2023.

Sprayking Agro Equipment Ltd is a small medium enterprise, established in 1980 with headquarters in Jamnagar, Gujarat. It is a brass manufacturing company that includes brass fittings, brass forging equipment, brass transformer parts, other customized brass parts and other related products. Sprayking Agro Equipment markets its products not only in India, but has made its presence in USA, Europe, Australia, Canada, South Africa, and UAE. Its current market capitalisation is Rs 64.79 crore.

The latest stock price has gone up by 4.99% over previous day's closing price and in one year it grew massively by 260.42%. Its 52-week high is at Rs 102.18 per share and 52-week low is at Rs 20.10 per share.

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