3,300 per cent returns in this multibagger stock, Board likely to announce bonus shares!
The stock gave multibagger returns of 900 per cent in 1 year and a whopping 3,300 per cent in 3 years.
Intellivate Capital Ventures Ltd announced that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, December 29, 2023, inter alia, to consider and recommend a proposal for the declaration of bonus shares to the equity shareholders of the company, subject to the approval of shareholders.
Earlier, the company made further investments to the extent of Rs. 2,75,44,050 in its Subsidiary Company, Boutonniere Hospitality Private Limited (BHPL) by way of subscription to 2,04,030 fully paid-up Equity Shares of the face value of Rs. 10/- each on private placement basis, for Rs 135 each (Issue Price) (including a premium of Rs 125 each). The turnover of BHPL for the financial year ended March 31, 2023, is Rs 12,00,000. The company needs to raise additional funds to gain access to long-term resources, fulfilling its growth requirements and addressing general corporate purposes.
Today, shares of Intellivate Capital Ventures Ltd were locked in a 5 per cent upper circuit to Rs 116.30 per share from its previous closing of Rs 110.77. The stock also made a new 52-week high of Rs 116.30 per share.
Intellivate Capital Ventures Ltd, founded in 1983, is a multifaceted firm offering consultancy and advisory services on financial and corporate matters, with a focus on empowering SMEs through financial assistance and venture funding across diverse sectors like IT, media, infrastructure, and real estate. Beyond financial solutions, they provide integrated client support through merchant banking services encompassing corporate finance, project finance, consultancy, treasury operations, and investment activities.
The company has a market cap of over Rs 500 crore and reported positive numbers in its Quarterly Results and annual results. The stock gave multibagger returns of 900 per cent in 1 year and a whopping 3,300 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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