18 Aug , 2022 By : Kanchan Joshi
Multibagger stock: After giving more than 150 per cent return to its shareholders in last one year, board of directors of Shubham Polyspin Ltd has announced bonus shares for its shareholders. The board of the small-cap textile company has announced bonus shares in 1:10 ratio that means one bonus share will be awarded for 10 shares held by the shareholders. The bonus share issue is subject to approval by members and shareholders at the ensuing Annual General Meeting of the company scheduled on 12th September 2022.
Informing Indian stock market exchanges about the bonus shares approval, Shubham Polyspin Ltd said, "With reference to our letter dated 20th July, 2022 informing matters to be considered at the Meeting of the Board of Directors of the Company; please note the Board of Directors of the Company has recommended the issuance of 1 (One) bonus equity share of Rs. 10/- each fully paid up for existing 10 (Ten) Equity Shares of Rs. 10/- each by utilising Rs. 1,10,20,000/- out of part of the Credit balance of Profit & Loss Account outstanding and as reflected in the Financial Statements of the Company as on 31st March, 2022."
The small-cap textile company is yet to announce record date for bonus share issuance.
Shubham Polyspin share price history
Shubham Polyspin shares are one of the multibagger stocks that Indian stock market has produced in last one year. In last one year, Shubham Polyspin share price has ascended from around Rs120 apiece levels to Rs307.50 per share levels, logging near 155 per cent jump in this time. It is one of the potential multibagger stocks of 2022 as well. In YTD time, Shubham Polyspin share price has surged from around Rs174 to Rs307.50 apiece levels, logging near 75 per cent rise in 2022. In last six months, Shubham Polyspin share price has surged from around Rs165 apiece levels to Rs307.50 per share mark, logging near 85 per cent rise in this time.
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