1:1 bonus share allotment is being considered by this multibagger penny stock!

It has risen 380 per cent since the last year, from Rs 2.48 to Rs 11.90 on BSE.

Penny stock multibagger Mishtann Foods Ltd has informed Indian exchanges that the company's board of directors will meet on June 9, 2022, to review and approve bonus share allotment. The plan to issue 1:1 bonus shares to qualifying shareholders has previously been publicised by the firm. Mishtann Foods Ltd has altered its record date for bonus shares in its correspondence with the BSE, and the business board has now set the record date for bonus share issue on June 3, 2022, which is today. 

The company has fixed Friday, June 03, 2022, as the Record Date, to ascertain the eligibility of shareholders entitled to issue of Bonus Equity Shares of the Company in the proportion of (One) Equity Share of Rs 1 each for every ten shares. The company is considering and approving the allotment of 50,00,00,000 bonus equity shares, among other business items, on the date for discussion and approval of bonus share issuance, Mishtann Foods Ltd stated. 

In 2021, Mishtann Foods was one of the multibagger stocks. It has risen 380 per cent since the last year, from Rs 2.48 to Rs 11.90 on BSE. However, since reaching a 52-week high of 19.55 on the BSE in January 2022, the multibagger stock has been consolidating. It has a market capitalization of Rs 595 crore and a trading volume of 24,51,430 on Thursday. It has a book value of Rs 1.01 per share.