• Multibagger SME IPO: Company board announces 11:4 bonus shares in December 2022
Multibagger SME IPO:.The Initial Public Offering (IPO) of Rayton TMT Limited was launched in August 2022 and Rayton TMT shares got listed on BSE SME Exchange at ₹70 per share on 5th September 2022, up from ₹70 in the price band of Rs. equity share. However, it closed below its price band at ₹66.50 per share. But, allottees who stayed invested in the stock in support of their conviction, have made strong returns in the last four months of its listing. Rayton TMT share price today is ₹447 per share, which is about ₹540 per cent higher than its issue price of ₹70 per equity share.
However, SME Stock has also announced bonus shares and stock splits. As per the information available on BSE, the Board of Retan TMT Limited has approved the Bonus Shares in the ratio of 11:4 as against the existing ratio of 1:10. The company approved the issue of bonus shares and stock subdivision, subject to approval by the shareholders of the company. The company board took these decisions in December 2022.
Informing about the issue of Bonus Shares, Rayton TMT Ltd. said, "You are hereby informed that the meeting of the Board of Directors of the Company was held today i.e. Wednesday, December 21, 2022 from 11:30 a.m. to 12:05 p.m. The Registered Office of the Company has, inter alia, considered the following, subject to the approval of the shareholders in the forthcoming Extraordinary General Meeting: 11 (Eleven) Bonus Shares for every 4 (Four) Equity Shares held by the Equity Shareholders of the Company Issuance Company on 'Record Date'. Bonus issue of equity shares is subject to shareholders' approval and other applicable statutory and regulatory approvals, as may be required. Company to notify 'Record Date' to determine entitled shareholders Receive bonus shares in due course."
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Giving details about the stock split, the small-cap company said, "You are hereby informed that the meeting of the Board of Directors of the Company is held today i.e. Wednesday, December 21, 2022 from 11:30 a.m. to 12:05 p.m. The Registered Office of the Company has inter alia considered the following, subject to the approval of the shareholders in the ensuing Extraordinary General Meeting: 1) Alteration of the capital of the Company by division/sub-division of 1 (one) Equity Share Out of 10 (ten) equity shares of a company of face value of Rs.10/- there are 10 (ten) equity shares of a company of face value of Rs.1/- each.
rayton tmt share price history
As mentioned above, the BSE SME IPO was launched in August 2022 at a price band of ₹70 per share and the stock was floated in the secondary market on September 5, 2022. interested. Today, SME stock is trading at ₹447, up nearly 540 per cent from its issue price. This means that the Rayton TMT IPO is one of the multibagger SME IPOs that Dalal Street has delivered in recent months.
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