Debt-free multibagger penny stock under Rs 30: Board announces 1:8 bonus shares & 5:1 stock split and company signs USD 2 million MoU with Secorbit FZCO, UAE
The stock gave multibagger returns of over 160 per cent from its 52-week low of Rs 9.50 per share.
Sellwin Traders Limited announced today that its Board of Directors has approved a sub-division of 1 fully paid-up equity share of Rs 10 each into 5 fully paid-up equity shares of Rs 2 each. Additionally, the Board has authorized the issuance of bonus shares to existing shareholders at a ratio of 1:8, using free reserves and a security premium account. The record date for the stock split and bonus shares has not yet been determined and will be announced at a later time.
Sellwin Traders Ltd has made significant strides in expanding its business operations through strategic partnerships and acquisitions. The company has signed a Memorandum of Understanding (MoU) with Secorbit FZCO, UAE, to develop a blockchain-based tokenization platform valued at USD 2 million. This innovative platform will enable the tokenization of various assets, including equities, bonds, and real-world assets, providing enhanced security, scalability, and seamless integration with existing financial and blockchain ecosystems.
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In addition to the tokenization platform development, Sellwin Traders Ltd has entered a business arrangement with SDF Productions Pvt Ltd, an agri-export company. The company expects to generate revenue of over Rs 30 crore from this partnership, with healthy margins of 35-40 per cent. Under the MoU, Sellwin will supply agro products to SDF Productions, which will then distribute them to both domestic and international markets. Sellwin's strategic investment in SDF Productions aims to leverage market growth, enhance supply chain integration, and boost revenue.
The company has a market cap of over Rs 50 crore and as of June 2024, the company is debt-free. The stock is trading at 0.75 times its book value and debtor days have improved from 230 to 126 days. The stock gave multibagger returns of over 160 per cent from its 52-week low of Rs 9.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.