Double Dhamaka! 1:1 Bonus Share & 5:1 Stock Split: Multibagger pharma stock jumps 14.6 per cent; Promoters bought 13,02,000 shares!
From Rs 38.05 to Rs 198.80 per share, the stock gave multibagger returns of over 400 per cent in 3 years.
The Board of Directors of Vaishali Pharma Ltd has approved several key decisions at their meeting on August 28, 2024:
- Share Split: The company will divide each existing equity share with a face value of ₹10 into five new equity shares with a face value of ₹2 each. This will make the shares more affordable and increase liquidity. (Ratio 5:1)
- bonus Share Issue: The board has recommended issuing one new fully paid-up equity share of ₹2 for every existing fully paid-up equity share. This will reward existing shareholders without requiring additional investment from them. (Ratio 1:1)
- Increase in Authorized Share Capital: The company's authorized share capital will be increased from Rs 22 crore to Rs 27 crore. This will provide the company with more flexibility for future growth and fundraising.
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On Wednesday, one of the Top Gainers on NSE, shares of Vaishali Pharma Ltd jumped 14.6 per cent to an intraday high of Rs 198.80 per share from its previous closing of Rs 173.46 per share. The stock’s 52-week high is Rs 203.60 and its 52-week low is Rs 118.15.
Vaishali Pharma Ltd, established in 1989, is a leading pharmaceutical company offering a wide range of products including active pharmaceutical ingredients, formulations, surgical supplies, herbals, veterinary medicines, nutraceuticals, oncology products, and more. With ISO 9001:2008 certification, the company serves over 35 locations worldwide, providing 1500+ products under 250+ brands.
VPL operates both domestically and internationally, engaging in contract manufacturing and trading of APIs, supplying APIs for export, and manufacturing and exporting various pharmaceutical formulations, veterinary products, surgical supplies, herbal and neutraceutical products, and oncology products. The company has a strong presence in the international market, exporting to numerous countries and holding a Star Exports House certification.
The company has a market cap of over Rs 200 crore. In July 2024, the promoters of the company bought 13,02,000 shares and increased their stake to 31.61 per cent compared to 26.32 per cent in June 2024. From Rs 38.05 to Rs 198.80 per share, the stock gave multibagger returns of over 400 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.
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