1:10 Stock split announcement: This multibagger NBCF company announces a stock split; complete details inside!
The company’s shares have delivered impressive multibagger returns of over 550 per cent to their shareholders.
Incorporated in 1992, Avonmore Capital Management Services Ltd provides loans and advances to corporations and offers sub-broker advisory services. The company has made a significant announcement regarding stock splits.
Stocks Split Announcement:
Avonmore Capital Management Services, a prominent player in the financial sector, has announced stocks split. The Board considered the proposal to subdivide each equity share of the Company, with a face value of Rs 10 each, into 10 (ten) equity shares, each with a face value of Rs 1, subject to necessary regulatory/statutory approvals and the approval of the shareholders of the Company.
The rationale behind this split is to bolster liquidity in the capital market, broaden the shareholder base, and increase accessibility for small investors. The split is expected to be completed within 3 months from the date of shareholder’s approval. The Board will determine the record date for the subdivision of equity shares and will promptly notify the exchanges accordingly.
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Share Performance of Avonmore Capital Management Services
On Friday the company's stock closed at around Rs 118.05 per share on the BSE, with a market capitalisation of Rs 275.68 crore. Additionally, the stock has delivered a return of around 82 per cent in the past one year and 555 per cent in the past three years.
In FY23 Avonmore Capital Management Services reported revenue of Rs 212 crore, representing a year-on-year growth of 151 per cent from Rs 84 crore last year. The company posted an operating profit of Rs 142 crore, compared to a profit of Rs 22 crore last year. The company’s net profit stood at Rs 122 crore in the FY23 compared to Rs 40 crore representing a YoY gain of 205 per cent .
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Investors must keep this Small-Cap or can be said as micro-cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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