Multibagger stock sets record date for 2:1 bonus shares and 1:10 stock split

Captain Pipes said in a stock exchange filing that “we would like to inform you that the Company has fixed Thursday, 02nd March, 2023 as the Record Date, for the purpose of ascertaining the eligibility of the shareholders entitled for the following matters, subject to the approval of shareholders in upcoming EGM to be held on Thursday, 23rd February, 2023: 1. Sub-division of 1 (one) Equity share of face value of Rs. 10/- each fully paid-up to 10 (ten) Equity shares of face value of Rs. 1/- each fully paid-up. 2. Issue of 2 (two) Bonus Shares for every 1 (one) Equity Shares held by the Equity Shareholders of the Company.”

To enhance the liquidity of equity shares and widen the shareholders’ base by making the equity shares more economical to the investors, the Board of Captain Pipes cited the reason behind stock split and bonus issue. According to the company, the total number of securities proposed to be issued as bonus shares or the total amount for which the securities will be issued (approximately) is 92971200 equity shares of face value of Rs.1/- each (post considering the split of shares).

On Thursday, the shares of Captain Pipes Ltd closed on the BSE at ₹639.00 apiece level, up by 4.93% from the previous close of ₹609.00. The stock recorded a total volume average of 1,000 shares and a deliverable volume average of 1,000 shares taking the deliverable quantity to traded quantity to 100%. The stock price climbed from ₹59 to the current market price during the past five years, resulting in a multibagger return of 983.05%. The stock price jumped from ₹25 to the current market price during the past three years, resulting in a multibagger return of 2,466.27%. 

The stock price rose from ₹88 to the current market price during the course of the past year, representing a multibagger return of 610%. The stock has appreciated 25.54% YTD so far in 2023, and during the past six months, it has produced a multibagger return of 280.36%. The stock touched a 52-week-high of ₹790.00 on (01/02/2023) and a 52-week-low of ₹72.00 on (29/04/2022), indicating that at the current market price, the stock is trading 19.11% below the 1-year high and 787.50% above the 1 year low. During Q3FY23, the company recorded a promoter shareholding of 73.82% and a public stake of 26.18%.