1:1 Bonus Share & 10:1 Stock Split: Rahul Gandhi’s portfolio multibagger penny stock under Rs 35 hit upper circuit as Company incorporates new subsidiary for business expansion!
The stock gave multibagger returns of 169.5 per cent from its 52-week low of Rs 12.75 per share and a whopping 700 per cent in 5 years.
On Wednesday, shares of Vertoz Advertising Ltd hit a 5 per cent upper circuit to Rs 34.35 per share from its previous closing of Rs 32.73. The stock’s 52-week high is Rs 45.25 and its 52-week low is Rs 12.75.
Vertoz INC, a wholly-owned subsidiary of Vertoz Limited, has recently expanded its operations with the incorporation of a new subsidiary, INCREMENTX LLC, in New Jersey, USA. The Certificate of Formation for INCREMENTX LLC was received on September 3, 2024 and its office is located at 28 Marigold Lane, Marlboro, New Jersey 07746. This acquisition falls within the Related Party Transaction(s) category, as Vertoz INC is a wholly-owned subsidiary of Vertoz Limited. However, the Promoter/Promoter Group/Group Companies do not have any interest in INCREMENTX LLC and the acquisition is being conducted at "arm's length."
INCREMENTX LLC is a newly incorporated entity with no prior business operations. It will primarily focus on online digital advertising services. This acquisition aligns with Vertoz INC's existing business and is expected to contribute to its growth and expansion in the US market. Vertoz INC, with its office at 33 Wood Avenue, South Suite 600, Iselin, New Jersey 08830, has a strong foundation in the online advertising industry and is well-positioned to support the growth of its new subsidiary, INCREMENTX LLC.
The shares of the company ex-traded stock split in the ratio 10:1 i.e., 10 shares of the face value of Re 1 each for every 1 equity share of the face value of Rs 10 each and bonus shares in the ratio of 1:1 i.e., 1 bonus share for each existing equity share held in the company post stock split. The ex-date for bonus shares and stock split was Friday, July 05, 2024.
As of March 31, 2024, Rahul Gandhi, Leader of the Opposition in the Lok Sabha and a prominent Congress leader, held around 260 shares of Vertoz Advertising as announced in the election affidavit. Following a stock split and bonus issuance, his holdings increased significantly. The initial 260 shares multiplied to 2,600 after the split and then doubled to 5,200 shares post-bonus issue.
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Vertoz Advertising Ltd., a pioneer in the ad-tech industry since 2012, offers data-driven solutions for marketing, advertising and monetization. Targeting digital marketers, agencies, and digital media businesses, Vertoz leverages cutting-edge technologies to provide a comprehensive suite of services. Their full-stack solutions, combined with strategic acquisitions, ensure a well-rounded product offering. As an AI-powered MadTech and CloudTech company, Vertoz caters to a diverse clientele, including businesses, digital marketers, agencies, publishers, cloud providers and tech companies. Their offerings encompass Marketing & Advertising Technology for achieving marketing goals and revenue streams and Media & Monetization Technology for facilitating seamless ad buying and selling. With renowned platforms like IngeniousPlex, IncrementX, Admozart and Adzurite, Vertoz empowers businesses to thrive in the digital landscape.
The company has a market cap of Rs 2,900 crore and debtor days have improved from 174 to 125 days. In its half-yearly results (Q1FY25) and its annual results (FY24), the company reported positive numbers. In Q1FY25, the net sales increased by 77.4 per cent to Rs 60.17 crore and net profit increased by 62 per cent to Rs 5.74 crore compared to Q1FY24. The stock gave multibagger returns of 169.5 per cent from its 52-week low of Rs 12.75 per share and a whopping 700 per cent in 5 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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