10:1 Stock Split After 2:3 & 1:1 Bonus Shares: Multibagger Textile Penny Stock Under Rs 80 Locked In Lower Circuit
The company has a market cap of Rs 94 crore and the stock gave multibagger returns of 658 per cent from its 52-week low of Rs 9.61 per share.
On Wednesday, shares of Padam Cotton Yarns Ltd were locked in a 5 per cent lower circuit to Rs 72.84 per share from its previous closing of Rs 76.67 per share.
Padam Cotton Yarns Ltd.’s Board of Directors, at their meeting held today, Wednesday, April 23, 2025, has approved the sub-division/split of the company's existing equity shares. The split ratio is such that every 1 (One) equity share of Rs 10 each fully paid up will be sub-divided/stock split into 10 (Ten) equity shares having a face value of Re 1 each fully paid up, subject to necessary approvals. This decision aims to enhance the liquidity of the company's equity shares and encourage participation from small investors by making the shares more affordable. The pre-subdivision paid-up share capital as of the date of this letter is Rs 12,91,00,000 divided into 1,29,10,000 equity shares of Rs 10 each, while the post-subdivision paid-up share capital is expected to be around Rs 12,91,00,000 divided into 12,91,00,000 equity shares of Re 1 each. The record date for the sub-division/split will be decided after obtaining the requisite approval of the shareholders and will be intimated in due course, with the expected time of completion being approximately within 3 months from the date of member approval and subject to statutory requirements.
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Earlier, the company ex-traded a 2:3 bonus issue, meaning shareholders will receive two additional equity shares for every three shares they currently hold. The record date for bonus shares was Tuesday, March 18, 2025. Furthermore, the company ex-traded a 1:1 bonus issue, meaning shareholders will receive one additional equity share for every one share they currently hold. The record date for bonus shares was Wednesday, January 08, 2025.
Padam Cotton Yarns Ltd., established in 1994, is a company specialising in the production of cotton yarn and consulting services. Their primary product is Tow Dyed, Bulked Acrylic Yarn, manufactured using advanced Tow-based technology sourced from Japan Exlan. Beyond yarn production, the company offers valuable consultation services to the textile industry and engages in wholesale trading of agricultural pumping sets and implements.
The company has a market cap of Rs 94 crore and the stock gave multibagger returns of 658 per cent from its 52-week low of Rs 9.61 per share. Investors should keep an eye on this textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.