400 per cent returns: Board announced bonus shares and approves plans to migrates from SME to main board!

Shares of this company have gained more than 15 per cent in the last six months.

Shri Venkatesh Refineries Limited informed in the exchange filing that the Board Meeting of the company was held on September 06, 2023. The board has approved the issuance of bonus Shares in the ratio of 1:1 which is 1 (One) fully paid-up equity shares for every 1 (One) equity share held as of the record date. The board has kept September 22, 2023, as the record date for the issue of bonus shares.

The board has also approved to Increase the authorised share capital from existing Rs. 15,00,00,000 (Rupees Fifteen crore) divided into 1,50,00,000 (One Crore Fifty Lakhs Only) Equity Shares of Rs.10/- each to 25,00,00,000 (Rupees Twenty-Five crore) divided into 2,50,00,000 (Two Crores Fifty Lakhs) Equity Shares of Rs. 10/- each. The board has also approved the migration Process from SME to the Main Board of BSESubject for the approval of members/exchanges.

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Shri Venkatesh Refineries Limited has delivered multibagger returns to its shareholders in the last two years. During this period, shares of Shri Venkatesh Refineries surged from Rs 42.80 on October 14, 2021, to Rs 227.00 on September 07, 2023, an increase of about 410 per cent in about two years holding period.

Shri Venkatesh Refineries Limited is in the business of manufacturing and marketing of edible oils. The company also does the production, processing and preservation of edible oils (Soybean and Cotton Seed Oil). The business process involves the purchase of the raw oil, then refining, packaging and selling of the edible oil.

Disclaimer: The article is for informational purposes only and not investment advice.