Multibagger in just one year: Board announced bonus issue of equity shares!

Shares of this company have gained more than 70 per cent in the last six months.

Indo US Bio-Tech Limited informed in the exchange filing that the company’s board has approved the bonus issue of equity shares in a ratio of 1:1, one equity share for every one equity share held on the record date. The board of the company has also approved an increase in the authorized share capital of the company from Rs. 11,00,00,000 (Eleven Crores only), divided into 1,10,00,000 Equity Shares of Re. 10/- (Rupee Ten Only) each to Rs. 21.00,00,000 (Twenty-one Crores only), divided into 2,10,00,000 Equity Shares of Re. 10/- (Rupee Ten Only) each and the consequent change in the capital clause of the memorandum of association of the company.

The company posted fantastic half-yearly Results. In H1FY23, the revenue of the company stood at Rs 33.61 crore which grew by 36.93 per cent YoY. The operating profit of the company stood at Rs 5.17 crore, which grew by 41.06 per cent YoY, while the PAT of the company grew by 55.61 per cent YoY, staying at Rs 4.14 crore.

Indo Us Bio-Tech Limited is involved in the production of various types of agricultural crop seeds like vegetable seeds, pulses, cereals, oilseed marketings, and spice seeds.

Furthermore, Indo Us Bio-Tech Limited has delivered multibagger returns to its shareholders. During this period, shares of Indo Us Bio-Tech Limited surged from Rs 82.50 on July 08, 2022, to Rs 388.00 on July 07, 2023, an increase of about 370 per cent in a one-year holding period. And investors should keep a close eye on this stock.