1:5 bonus share & 5:1 stock split: Penny stock under Rs 10; Company make a strategic investment of Rs 2.50 million in PETMOJO
The stock gave multibagger returns of 430 per cent in 5 years.
On Friday, shares of Starlineps Enterprises Ltd plunged 0.12 per cent to Rs 8.48 per share from its previous closing of Rs 8.49 per share. The stock’s 52-week high is Rs 31.03 per share and its 52-week low of Rs 8.25 per share. The stock gave multibagger returns of 430 per cent in 5 years.
Starlineps Enterprises Limited Company has made a strategic investment of INR 2.50 million in Mangopaw Technologies and Solutions Private Limited, better known as PETMOJO. This investment values PETMOJO at INR 500 million and grants Starlineps a non-controlling equity stake in the company. PETMOJO, a leading and rapidly growing pet care platform in India, offers convenient doorstep services for pet care. The company has developed the PETMOJO app, a user-friendly platform designed with care and reliability to cater to the needs of both pets and their owners.
Earlier, Starlineps Enterprises Limited had incorporated a wholly owned subsidiary, Starlineps International Private Limited, on October 25, 2024. This subsidiary was established to engage in the business of goldsmiths, silversmiths, jewellers, gem merchants, and related activities. As a newly incorporated entity, it had no prior operational history or turnover.
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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 ex-date for bonus shares and stock split was Wednesday, September 25, 2024.
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 220 crore.
Disclaimer: The article is for informational purposes only and not investment advice.