1:5 bonus share & 5:1 stock split: Multibagger stock under Rs 100 in focus as company enters into strategic investment of Rs 2.40 million in Fusion Klassroom Edutech Pvt Ltd
The stock gave multibagger returns of 830 per cent in 5 years.
On Wednesday, shares of Starlineps Enterprises Ltd plunged 2.58 per cent to Rs 90.55 per share from its previous closing of Rs 92.95 per share. The stock’s 52-week high is Rs 185.80 per share and its 52-week low of Rs 83.30 per share. The stock gave multibagger returns of 830 per cent in 5 years.
Starlineps Enterprises Limited has made a strategic move by investing Rs 2.4 million in Fusion Klassroom Edutech Private Limited. This investment, which values Fusion Klassroom at Rs 650 million, secures Starlineps a non-controlling equity stake in the company. This strategic partnership aligns with Starlineps's commitment to the education sector, recognizing the potential of Fusion Klassroom's innovative hybrid education model.
Fusion Klassroom, an EdTech platform, offers a comprehensive solution combining online and offline learning. Its platform provides a diverse range of educational content, including academic subjects, skills training, and competitive exam preparation. Powered by AI and offering multilingual content, Fusion Klassroom delivers a personalized and engaging learning experience. The platform's affordable subscription plans and wide range of educational topics make it a compelling choice for learners.
bonus Shares & stock split Update: The company has approved a stock split from Rs 5 to Re 1 per share, subject to shareholder approval via postal ballot and other necessary clearances (Ratio 5:1). Additionally, a 1:5 bonus issue is proposed for existing shareholders post-split, also pending shareholder and regulatory approval. To accommodate these changes, the company will increase its authorized share capital from Rs 22 crore to Rs 37 crore, requiring shareholder and regulatory approval. The Board fixed the record date for bonus shares and stock split as Wednesday, September 25, 2024.
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Additionally, the company has made a strategic investment of Rs 25 lakh in CUR8, a GenAI-powered revenue tech platform, acquiring up to a 100-basis point equity stake. This investment positions Starlineps in the high-growth technology sector and grants access to cutting-edge GenAI capabilities. Furthermore, Varshaben Dhirajlal Koradiya, a major shareholder, has announced that 15 lakh equity shares or a 3.59 per cent stake of the company have been freed from a pledge held by Orbis Financial Corporation Limited.
Starlineps Enterprises Ltd, established in 2011, is a Surat-based wholesale and retail trader of diamonds and jewellery. The company sources its products domestically and distributes them to manufacturers, wholesalers and retailers primarily in Gujarat. Their product range includes precious stones and jewellery & they offer trading services for various precious metals, stones and ornaments. The company has a market cap of Rs 391 crore.
Disclaimer: The article is for informational purposes only and not investment advice.