Locked in 5% upper circuit, penny stock fixes record date for 1:1 bonus shares

Regency Fincorp Ltd is a small-cap company with a market capitalization of ₹6.24 Crore that operates in the financial services industry. Regency Fincorp Limited is an RBI-registered non-deposit-taking NBFC. The firm provides loans to Indian SMEs. The company's Board of Directors has established a record date for 1:1 bonus shares in order to determine the shareholders' eligibility for the abovementioned purpose.

The Board of Directors of the company have said in a stock exchange filing that “Pursuant to Regulation 42(2) and (3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors at their meeting held today, i.e., Monday, 10th October, 2022 has fixed Friday, 21st October, 2022 as Record Date for the purpose of ascertaining the eligibility of the Members for allotment of bonus shares in the ratio of 1:1 i.e. One (1) Bonus Equity Share of Rs. 10/- each fully paid up for every One (1) Existing Equity Share of Rs. 10/- each held.”

The shares of Regency Fincorp Ltd hit 4.94% upper circuit today and closed at ₹11.68 apiece. In trade today, this penny stock recorded a total volume of 12,105 shares compared to the 20-Day average volume of 9,991 shares. In the last 5 years, the stock has fallen 62.98% and in the last 3 years, the stock has fallen 61.64%. In the last 1 year, the stock has gained 16.80% and on a YTD basis, the stock has fallen 5.81% so far in 2022. The stock had touched a 52-week-high of ₹14.85 on (11/01/2022) and a 52-week-low of ₹6.15 on (20/07/2022), indicating that at the current market price the stock is trading 21.34% below the high and 89.91% above the low. For the quarter that ended June 2022, the company recorded a promoter shareholding of 24.98% and a public shareholding of 75.02%.