1:5 bonus share & 5:1 stock split: Multibagger penny stock under Rs 15 hit lower circuit as company makes a strategic investment in Mindler Education Pvt Ltd
The stock gave multibagger returns of 680 per cent in 5 years.
On Thursday, shares of Starlineps Enterprises Ltd hit a 5 per cent lower circuit to Rs 12.70 per share from its previous closing of Rs 13.36 per share. The stock’s 52-week high is Rs 31.03 per share and its 52-week low of Rs 12.70 per share. The stock gave multibagger returns of 680 per cent in 5 years.
Starlineps Enterprises Limited has strategically invested Rs 1 million in Mindler Education Private Limited, valuing the latter at Rs 1,000 million. This non-controlling equity stake aligns with STARLINEPS's vision, as Mindler's AI-powered career guidance platform empowers students with psychometric assessments, career simulations, and corporate experience programs to make informed career decisions. This investment strengthens STARLINEPS's presence in the education sector and complements its existing portfolio.
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bonus Shares & stock split Update: The company has approved a stock split from Rs 5 to Re 1 per share, subject to shareholder approval via postal ballot and other necessary clearances (Ratio 5:1). Additionally, a 1:5 bonus issue is proposed for existing shareholders post-split, also pending shareholder and regulatory approval. To accommodate these changes, the company will increase its authorized share capital from Rs 22 crore to Rs 37 crore, requiring shareholder and regulatory approval. The ex-date for bonus shares and stock split was Wednesday, September 25, 2024.
Starlineps Enterprises Ltd, established in 2011, is a Surat-based wholesale and retail trader of diamonds and jewellery. The company sources its products domestically and distributes them to manufacturers, wholesalers and retailers primarily in Gujarat. Their product range includes precious stones and jewellery & they offer trading services for various precious metals, stones and ornaments. The company has a market cap of Rs 329.41 crore.
Disclaimer: The article is for informational purposes only and not investment advice.