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

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


With a market valuation of 180 Cr, Vinny Overseas Limited is a small-cap company that operates in the textile industry. One of the most cutting-edge fabric manufacturers is the firm. Vinny Overseas is one of the multibagger IPO stocks is likely to be in focus tomorrow as the Board of Directors of the company will meet tomorrow for the announcement of bonus shares and stock split.

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.


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http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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