1:1 Bonus Issue Announcement: Small-Cap Multibagger Company Surprises Investors Before Year-End – Complete Details Inside
The company’s shares have delivered an impressive return of over 1,100 per cent in the past 2 years.
Incorporated in 1984, EFC (I) Ltd (formerly known as Amani Trading and Exports Ltd) operates in the business of leasing office spaces. At its meeting held on Friday, December 27, 2024, the company’s Board of Directors approved the following proposals including bonus shares and they are:
Bonus Issue: Approval for issuing bonus shares in the ratio of 1:1, meaning one new fully paid-up equity share of Rs 2 each for every 1 existing fully paid-up equity share of Rs 2 each. The bonus shares will be issued by capitalizing the securities premium received in cash, general reserves, or retained earnings.
Increase in Authorized Share Capital: Approval for increasing the company’s authorized share capital from Rs 15 crore to Rs 25 crore, along with the corresponding amendments to the Memorandum of Association.
Capital Structure:
Pre-Bonus Issue: 4,97,76,688 equity shares of Rs 2 each, aggregating to Rs 9,95,53,376.
Post-Bonus Issue: 9,95,53,376 equity shares of Rs 2 each, aggregating to Rs 19,91,06,752.
The bonus shares are expected to be credited or dispatched within two months from the Board’s approval date, i.e., by or before February 26, 2025.
Share and Financial Performance:
At the start of the day's trading session, shares of EFC (I) Ltd opened at Rs 669.70 per share, compared to the previous day's closing figure of Rs 657.70 per share on the BSE. Currently, the shares are at Rs 672.85 per share. The company's current market capitalization stands at Rs 3,340 crore. Additionally, the company’s shares have delivered over 1,100 per cent multibagger return in just 2 years.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
As per the Quarterly Results, in the Q2 FY25, EFC (I) Ltd recorded a revenue of Rs 166 crore compared to Rs 98 crore. The operating profit stood at Rs 79 crore. The company reported a net profit of Rs 37 crore compared to a loss of Rs 11 crore
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.