6:11 bonus shares, 1:10 stock split: Multibagger stock to trade ex-bonus, ex-split next week. Details here

Multibagger stock: Shares of Lorenzini Apparels Ltd are one of the multibagger stocks that the Indian stock market has produced in recent years. In the last five years, Lorenzini Apparels share price has ascended from ₹5.50 per share level to ₹425 per share level, logging to the tune of a 7,600 percent rise in this time. So, the penny stock has turned into a multibagger stock in the last five years. However, in the last one year, this multibagger stock has appreciated from nearly ₹91 to ₹425 apiece on BSE, logging a nearly 350 percent rise in this time. This multibagger penny stock will be in focus next week as it will be trading ex-bonus and ex-split on 28th March 2024. 

The board of directors of the small-cap company has fixed 28th March 2024 as the record date for ascertaining the eligible shareholders for issuance of 6:11 bonus shares and a 1:10 stock split. Earlier the company board had fixed the record date on 27th March 2024 but later on, they revised the record date for bonus shares and stock split to 28th March 2024.

Lorenzini Apparels bonus shares, stock split

Informing Indian stock market exchanges about the change in record date, the small-cap company said, "In continuation to our earlier communication dated March 15, 2024, informing the fixation of Record Date of Wednesday, March 27, 2024, to ascertain the eligibility of the shareholders/security holders entitled to Sub-division of the face value of Equity Shares & Bonus Equity shares. In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, due to an inadvertent typographical error, the record date is mentioned as 27th March 2024 instead of 28th March 2024."

"Further, the revised Record Date is Thursday, March 28, 2024, for a) Sub-division of the face value of Equity Shares (all the Authorized, Issued, Subscribed, and Paid-up Equity Shares of the nominal value of Rs. 10/- (Rupees Ten Only) each shall stand subdivided into 10 (Ten) Equity Shares of the nominal value of Re. 1/-(One Rupee) each fully paid up and; b) ascertaining the eligibility of security holders entitled for issuance of Bonus Equity Shares of the Company in the ratio of 6:11 i.e. 6 (Six) Equity Shares for every 11 (Eleven) Equity Shares having a face value of Re. 1/- (considering the post-sub-division/split of face value of equity shares)," Lorenzini Apparels said.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.