Debt-free company with 2,400 per cent multibagger returns: Board announces stock split after 24:100 bonus shares; scrip hit 52-week high!

The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 44.09 per share and a whopping 2,400 per cent in 2 years.

Growington Ventures India Ltd informed that a meeting of the Board of Directors of the company, in a meeting held at the Registered Office of the Company at Shiv Chamber, 4th Floor, Plot No. 21, Sector - 11, CBD Belapur, Navi Mumbai - 400614, Maharashtra, inter-alia, approved alteration in the capital of the company by sub-division/split of existing equity share of the company from 1 equity share having face value of Rs 10 each, fully paid-up into 10 equity shares having face value of Rs 1 each fully paid-up, subject to the approval of shareholders of the Company.

The Record Date for the stock split will be intimated in due course. The rationale behind the split is to enhance the liquidity of equity shares and widen the shareholders' base by making the equity shares more economical to the investors.

Earlier, the shares of the company had ex-traded bonus shares in the ratio of 24:100. It implied that for every 100 shares held, shareholders would receive 24 bonus shares as of the record date. The bonus shares' ex-record date was Friday, March 24, 2023. 

Growington Ventures India Ltd, commonly known as VMV Vacations, is in the business of offering all travel and tourism-related services, such as booking flights, vacation packages, hotels and resorts, vehicle rentals, visas, event management, and wedding planning. The company has a market cap of over Rs 350 crore and its debt-free as of today.

Today, shares of Growington Ventures India Ltd gained 10.2 per cent to an intraday high of Rs 231 from its previous closing of Rs 209.65. The stock also made a fresh 52-week high is Rs 231 per share. The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 44.09 per share and a whopping 2,400 per cent in 2 years. Investors should keep an eye on this micro-cap stock.  

Disclaimer: The article is for informational purposes only and not investment advice.