The shares of Vinny Overseas Ltd have once again hit an upper circuit of 5% during the afternoon sessions of Tuesday. With an upper circuit of 5%, the stock has touched a new all-time high of 196.90.
Vinny Overseas is engaged in the business of full-service designs and builds soft goods manufacturing studios. The company serves big & small companies on a diverse range of projects.
This is a multi-bagger stock that has given a return of 556% in the past year. This means if you had invested Rs 1 lakh one year ago, your investment would currently be worth Rs 6.56 lakh
On 16th January 2023, the board of directors of the company had a Board meeting where they approved the sub-division/split of the shares and also approved the issue of bonus shares.
Stock Split
The company has approved for the split of shares in the ratio of 1:10. This means, one share with a face value of Rs. 10 would turn into 10 shares with a face value of Re. 1 after the split.
Suppose an Investor holds 10 shares with a market price of Rs. 196 each of the company, his/her shares would turn into 100 shares worth Rs. 19.6 each after the split.
The ex-date and the record date for the split are yet to be announced by the company.
Bonus Issue
Vinny Overseas Ltd has also announced the issue of fully paid-up bonus equity shares of ₹1 each in the ratio of 13:10. Therefore, 13 bonus shares will be allotted for every 10 equity shares that shareholders hold as on the record date, which will be announced in due course.
The issue of the bonus shares will occur after the stock split due to which the bonus will occur at the face value of Re. 1 per share.
The bonus issue is subject to the approval of shareholders in an Extra Ordinary General Meeting (EGM) of the Company.
-Written by Aaron Vas
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