Penny stock under Rs 30 in green after Board announces stock split from Rs 10 to Re 1
The company has a market cap of Rs 39 crore and stock is up by 22.6 per cent from its 52-week low of Rs 23.65 per share.
Inspire Films Limited proposes to subdivide/split each of its existing equity shares having a face value of Rs 10 into 10 (ten) equity shares having a face value of Re 1 each, fully paid up. This stock split, subject to shareholder approval through a postal ballot, aims to enhance liquidity and broaden the shareholder base by making the shares more affordable and accessible to a wider range of investors. The record date for the stock split will be determined and communicated to the stock exchanges after obtaining shareholder approval. Concurrently, the Company has secured several significant projects in the television and OTT sectors, necessitating substantial long-term working capital and project financing. The Board has directed management to finalize a comprehensive business plan and explore suitable financing options, including but not limited to debt, equity, or a combination thereof, to support the company's growth trajectory and successfully execute these projects.
Inspire Films Ltd, founded in 2012, is a full-service entertainment company that creates, produces, distributes, and exhibits television and digital content. They cater to both traditional television by developing shows for major Hindi channels like Star Plus and Colors TV, and the booming digital streaming market by producing content for Netflix, Amazon Prime and Hotstar.
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Their contracts typically involve year-long commitments for traditional channels with episode lengths ranging from 30 to 60 minutes, while digital platforms involve shorter series of 8-10 episodes (45-60 minutes) or 25-60 episodes (22-25 minutes) with the possibility of multiple seasons based on success. Inspire Films has also expanded into regional language content for Telugu, Tamil, Malayalam, Bengali, and Marathi audiences. With over 10,000 episodes produced, including 35 original series, they're a major player in shaping Indian entertainment across all platforms.
Today, shares of Inspire Films Limited surged 4.13 per cent to an intraday high of Rs 29 per share from its previous closing of Rs 27.85 per share. The stock’s 52-week high is Rs 60 and its 52-week low is Rs 23.65.
The company has a market cap of Rs 39 crore and stock is up by 22.6 per cent from its 52-week low of Rs 23.65 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.