Multibagger penny stock under Rs 90; Board announces 10:1 stock split
The stock is up by 63 per cent from its 52-week low of Rs 51.60 per share and gave multibagger returns of over 550 per cent in 3 years.
Onesource Ideas Venture Ltd's Board of Directors proposes to sub-divide each existing Rs.10 equity share into one Re.1 share, subject to shareholder and regulatory approval. This would require altering the company's Memorandum of Association. Additionally, the Board recommends increasing the authorized share capital from Rs 5 crore to Rs 55 crore, divided into 55 crore Re.1 shares each. Both the stock split and capital increase require shareholder and potentially regulatory approval, with the record date for the split to be announced later.
Onesource Ideas Venture Ltd offers investment banking services such as mergers and acquisitions and business restructuring. The company invests in companies for the long term and focuses on building value for the businesses it invests in. The company works closely with founders and management teams to help them grow their businesses.
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On Friday, shares of Onesource Ideas Venture Ltd zoomed 0.59 per cent to Rs 84.01 per share from its previous closing of Rs 83.52 with an intraday high of Rs 87.60 and an intraday low of Rs 83.50.
The company has a market cap of Rs 25 crore and working capital requirements have reduced from 696 days to 97.3 days. The stock is up by 63 per cent from its 52-week low of Rs 51.60 per share and gave multibagger returns of over 550 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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