1,900 per cent multibagger returns; Board announces stock split from Rs 10 to Rs 1

The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 44.09 per share and a whopping 1,900 per cent in 2 years.

Growington Ventures India Ltd informed that a meeting of the Board of Directors of the company, in a meeting held at the Registered Office of the Company at Shiv Chamber, 4th Floor, Plot No. 21, Sector - 11, CBD Belapur, Navi Mumbai - 400614, Maharashtra, inter-alia, approved alteration in the capital of the company by sub-division/split of existing equity share of the company from 1 equity share having face value of Rs 10 each, fully paid-up into 10 equity shares having face value of Rs 1 each fully paid-up as of record date.

The company fixed the record date for the stock split is Wednesday, January 31, 2024. The rationale behind the split is to enhance the liquidity of equity shares and widen the shareholders' base by making the equity shares more economical to the investors.

Earlier, the shares of the company had ex-traded bonus shares in the ratio of 24:100. It implied that for every 100 shares held, shareholders would receive 24 bonus shares as of the record date. The bonus shares' ex-record date was Friday, March 24, 2023. 

Growington Ventures India Ltd, commonly known as VMV Vacations, is in the business of offering all travel and tourism-related services, such as booking flights, vacation packages, hotels and resorts, vehicle rentals, visas, event management, and wedding planning. The company has a market cap of Rs 299 crore and is debt-free as of today.

Today, shares of Growington Ventures India Ltd gained 2.53 per cent to Rs 186.10 per share with an intraday high of Rs 188 and an intraday low of Rs 182. The stock’s 52-week high is Rs 236 per share and its 52-week low is Rs 44.09. The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 44.09 per share and a whopping 1,900 per cent in 2 years. Investors should keep an eye on this micro-cap stock.  

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