1:8 Bonus Shares & 5:1 Stock Split: Heavy buying in this debt-free multibagger penny stock under Rs 30; Rockets over 8 per cent, Check record date inside
The stock gave multibagger returns of 156.67 per cent from its 52-week low of Rs 10.50 per share.
The Board of Directors of Sellwin Traders Limited has approved a sub-division of 1 fully paid-up equity share of Rs 10 each into 5 fully paid-up equity shares of Rs 2 each. Additionally, the Board has authorized the issuance of bonus shares to existing shareholders at a ratio of 1:8, using free reserves and a security premium account. The record date for the stock split and bonus shares is fixed as Friday, November 01, 2024.
Sellwin Traders Acquires Majority Stake in Damask Jewellers
Sellwin Traders has announced a strategic investment in Damask Jewellers Private Limited, acquiring a 51% controlling stake. This investment aligns with Sellwin's future business plans and aims to expand its presence in the jewellery industry. Damask Jewellers is a newly incorporated company with an authorized share capital of 1,00,000 and a paid-up share capital of 1,00,000. The acquisition is being made at an arm's length price of Rs 10 per share, totalling Rs 51,000 for 5100 equity shares.
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Sellwin's Continued Expansion and Strategic Partnerships
This acquisition marks another strategic move for Sellwin Traders, which has been actively expanding its business through partnerships and acquisitions. Recent milestones include a MoU with Secorbit FZCO to develop a blockchain-based tokenization platform valued at USD 2 million. Additionally, Sellwin has entered a business arrangement with SDF Productions Pvt Ltd, an agri-export company. This partnership is expected to generate revenue of over Rs 30 crore with healthy margins. Sellwin's strategic investments aim to leverage market growth, enhance supply chain integration, and boost its overall revenue.
The company has a market cap of over Rs 50 crore and as of June 2024, the company is debt-free. The stock is trading at 0.78 times its book value and debtor days have improved from 230 to 126 days. On Monday, shares of the company rocketed over 8 per cent to Rs 26.95 per share from its previous closing of Rs 24.87 per share with a spurt in volume by more than 1.80 times on BSE. The stock gave multibagger returns of 156.67 per cent from its 52-week low of Rs 10.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.