7:1 bonus share & 10:1 stock split: Multibagger penny stock at Rs 3.39 with 4,137 returns turns Deft-Free, Expansion into retail loan segment & Investment in tech and AI start-ups

The stock gave multibagger returns of 230 per cent in just 1 year and a whopping 4,137 per cent in 3 years.

On Friday, the shares of Sunshine Capital Ltd were locked in a 5 per cent upper circuit to Rs 3.39 per share from its previous closing of Rs 3.23. The stock’s 52-week high is Rs 4.13 while its 52-week low is Rs 0.46. The company has a market cap of over Rs 350 crore. 

The company announced several significant developments. They are as follows:

1. Debt-Free Status: The company has become completely debt-free. This achievement has been made possible by raising funds through a preferential issue of equity shares. This strategic move has strengthened our financial position, providing a solid foundation for future growth and expansion.

2. Expansion into the Retail Loan Segment: As part of our strategic growth plan, the company will be expanding our services into the retail loan segment. The company will offer home loans and education loans, specifically targeting students planning to study abroad. Additionally, we are actively seeking to establish partnerships with well-reputed international universities to facilitate these loans and support our customers' educational aspirations.

3. Investment in Tech and AI Start-ups: Recognizing India as a burgeoning hub for next-generation AI technology, Sunshine Capital Ltd will invest in viable tech and AI start-ups in the early stages. This initiative aims to support innovative ventures and capitalize on the growing technological advancements in the country, positioning us at the forefront of the AI revolution. The company believes these strategic initiatives will drive long-term growth and create significant value for our shareholders.

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Sunshine Capital Ltd, established in 1989, navigates the financial realm through share trading, investing, and financing activities. Recognised as a non-deposit non-systematically important non-banking financial company, it holds its ground in India's credit reporting sphere with registrations across all four RBI Authorized CICs.

Sunshine Capital Ltd. is offering shareholders a double treat with a stock split and bonus shares. The company's board of directors approved a 10:1 stock split, reducing the face value of each share from Rs. 10 to Rs. 1. This effectively increases the number of shares outstanding by 10 times. Additionally, shareholders will receive a 7:1 bonus issue, meaning they'll get 7 additional shares for every 1 share they currently hold.

This translates to a significant boost in the total number of shares owned by each investor, potentially increasing their overall holding value. This move could make the stock more affordable for individual investors and enhance liquidity, leading to increased trading activity. The company fixed the record date for bonus shares & stock split as Monday, March 11, 2024.

The promoters of the company own 5.50 per cent and the public holds 94.50 per cent stake. The stock gave multibagger returns of 230 per cent in just 1 year and a whopping 4,137 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.