Multibagger IPO to be in focus tomorrow, Board to mull stock split, bonus shares

The company has said in a stock exchange filing that “We wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Monday, January 16, 2023 at 03:30 P.M. 1. To consider, approve and recommend Split/ sub- division of Equity shares of the company 2. To consider increase in Authorised share capital of the company 3. To consider consequential amendment to the capital clause of Memorandum of Association of Company and Articles of Association, if any. 4. To consider Issue of Bonus Shares to the shareholders of the Company. 5. To fix date, time and venue for conducting the Extra Ordinary General Meeting of the Company and approving draft notice thereof. 6. To consider and appoint a scrutinizer to conduct the Extra-Ordinary General Meeting in a fair and transparent manner. 7. Any other business with the permission of the chairman.”

On Friday, the shares of Vinny Overseas Limited closed on the NSE at ₹178.65 apiece level, up by 5.00% from the previous close of ₹170.15. The stock recorded a total volume of 9,936 shares compared to the 20-Day average volume of 29,508 shares. The stock got listed on 28th November 2022, and since then has risen from ₹40 per share to the current market price, generating a multibagger return of 495%. 

On a YTD basis, the stock has rallied 21.32% so far in 2023. The stock price climbed from ₹44 to the current market price over the past six months, resulting in a multibagger return of 306.02%. Despite having risen by 58.17% over the last month, the stock has plummeted by 4.87% over the last five trading days. The Vinny Overseas IPO opened on September 28, 2018, and closed on October 3, 2018. The maximum issue size was ₹10.38 Cr, and the issue price was set at ₹40 per share.