Penny stock under Rs 5: Board announces bonus shares & stock split!

The Board of Directors of Vinny Overseas Limited Company has made a very big announcement in its general meeting a few days ago, which is a matter of great happiness for the investors.

In the meeting held by the company, it was announced that the authorized share capital should be increased from Rs 25,00,00,000 to Rs 50,00,00,000, subject to the approval of the members of the company.

Not only this, the company also approved that its share price should be in the ratio of 1:1. And along with this the company also considered raising funds through rights issue of up to 23,26,23,311 equity shares of face value of Re 1 each.

And in this way, on the basis of Rs 2 per equity share for every 1 equity share, the total share of all the existing members of the company will be increased to Rs 46,52,46,622 through this rights issue.

You might be aware that the company had earlier also done bonus shares and stock split in the ratio of 13:10.

If you have also invested in this stock, then this company has given a return of about 35 percent to its investors in a period of 1 year.

Talking about the market cap of this company, the market cap of Vinny Overseas Limited Company is Rs 71.88 crore.

And this company works in manufacturing and exporting textile products. If we look at the textile products, this company offers cotton and rayon fabrics used in dresses, kurtis and shirting.

Disclaimer: This article has been written for informational purposes only, please consult your financial advisors for investment advice.

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