3,600 per cent returns in this multibagger stock, Board announces bonus shares!

The stock gave multibagger returns of 920 per cent in 1 year and a whopping 3,600 per cent in 3 years.

Intellivate Capital Ventures Ltd announced the Board of Directors of the company has approved bonus shares in the ratio 2:1, i.e., Issue of 2 bonus shares for every 1 equity shares held by the equity shareholders of the company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time.

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 plunged 1.90 per cent to Rs 116.05 per share from its previous closing of Rs 118.30. The stock’s 52-week high is Rs 128.21 and its 52-week low is Rs 12.21. 

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 920 per cent in 1 year and a whopping 3,600 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.