Small cap company Vinnie Overseas Limited is going to give strong profits to its investors. The board members of the company on Monday approved the issue of bonus shares and stock split in the ratio of 13:10. After this, the company’s shares were in the upper circuit of 5% on Tuesday. Its share price is Rs 196. Earlier on Monday also the shares had closed with a gain of 5%. The company is engaged in textile sector.
The company said in a stock exchange filing that its board of directors “considered and approved the issue of Bonus Equity Shares in the ratio of 13:10”. This means that for every 10 shares held, 13 bonus shares of the company will be issued. Apart from this, stock split has also been approved into 10 shares each.
The stock closed at Rs 196.90 on the NSE. Earlier on Monday and Friday also the shares of the company were in the upper circuit of 5%. Vinnie Overseas is a SME IPO stock listed on Nov 28, 2022. The stock has gained nearly 550% so far. So far in 2023, 34 have climbed.