IT stock sets record date for 1:1 bonus shares, scrip up over 700% in 3 years

“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, We would like to inform you that board of Directors have fixed Thursday, March 30, 2023 as the ‘Record Date’ for the purpose of ascertaining the eligibility of Shareholders for issuance of 1,02,50,000 Bonus Equity Shares in the ratio of 1:1 (1 (One) new equity Bonus share of Rs. 10/- each for every 1(One) existing equity Shares of Rs. 10/- each),” said Innovana Thinklabs in a stock exchange filing.

“We wish to inform you that a meeting of the Board of Directors of the Company will be held on Friday, March 31,2023 at registered office of the Company at Plot No. D-41, Patrakar Colony, Near Jawahar Nagar Moti Dungri Vistar Yojna, Raja Park, Jaipur — 302004, India for allotment of 1,02.50,000 Bonus Equity shares as approved by shareholders vide Extra-ordinary General Meeting,” said the Board of Directors of Innovana Thinklabs in a stock exchange filing.

The company recorded a net revenue of ₹61.92 Cr during FY22 compared to ₹60.61 Cr reported during FY21. The company’s net expenses stood at ₹35.58 Cr during FY22 as against ₹41.75 Cr recorded during FY21. Innovana Thinklabs said its net profit stood at ₹21.47 Cr in FY22 compared to ₹15.55 Cr during FY21 and its EPS reached ₹20.46 during FY22 as against ₹15.48 recorded in FY21. 

The shares of  Innovana Thinklabs closed on Friday on the NSE at ₹626.00 apiece level, down by 4.86% from the previous close of ₹658.00. The stock has achieved a multibagger return of 563.14% over the previous five years, and a multibagger return of 738.58% during the last three years. In the last year, the stock has appreciated by 48%, but it plummeted by 10% in the previous month. During Q2FY23, the company recorded a promoter shareholding of 73.19% and a public stake of 26.81%.