Multibagger stock to consider 1:4 bonus share issue. Details here
Multibagger stock: ANG Lifesciences India Ltd shares are soon going to turn ex-bonus stock. The board of directors of the BSE-listed company has recommended 1:4 bonus shares, which is subject to approval of the shareholders of the company. This bonus share will be an icing on the cake for its shareholders as the stock has already delivered stellar return to its shareholders. It is one of the multibagger stocks produced by Indian stock market in recent years.
ANG Lifesciences India Ltd informed about the recommendation of bonus shares in its exchange communication citing, “We wish to inform you that the Board of Directors of ANG Lifesciences India Limited …. considered & recommended the issuance of fully paid up Bonus Shares in proportion of 1:4 i.e. 1 (one) fully paid up share for every 4 (four) fully paid-up shares held by shareholder of the company, subject to shareholders’ approval.”
The company board also considered & recommended the Increase in Authorised Share Capital of the Company from ₹10,36,66,300 (Rupees ten crores thirty six lakhs sixty six thousand three hundred) to ₹14,00,00,000 (Rupees fourteen crores), subject to the shareholders’ approval.
The company board also approved 30th May, 2022 as cut-off date for ascertaining the list of shareholders to whom the notice of postal ballot (e-voting process) would be sent and also for reckoning voting rights. So, chances are high that company might have started the proceedings of e-voting for bonus share issuance.
As mentioned above, ANG Lifesciences shares are one of the multibagger stocks in India. This multibagger stock has been under profit-taking heat after climbing to its life-time high of ₹800.45 levels on BSE in November 2021. In year-to-date (YTD) time, it has shed more than 50 per cent. However, it is still a multibagger stock as in last one year, it has delivered more than 140 per cent after surging from ₹92 to ₹223.55 levels.