Multibagger stock is 419% above the 52-week-low, Board declares stock split

The company has said in a stock exchange filing that “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform that the Board of Directors of the Company has, at its meeting held today i.e. on Thursday, 1st December, 2022, inter alia, decided to seek approval of the shareholders through Postal Ballot (including remote e-voting) in respect of the following: Sub-division (Split) of equity shares of face value of Rs.10/- (Rupees Ten only) each held by shareholders of the Company, into face value of Rs. 2/- (Rupees Two only) each fully paid-up. The Record Date for the proposed sub-division (split) will be intimated in due course subject to compliance of necessary laws.”

The pre-division authorized share capital is 10,500,000 shares at a face value of ₹10 and post-division authorized share capital would be 52,500,000 shares at a face value of ₹2. The pre-division issued subscribed & paid-up share capital is 10,482,525 shares at a face value of ₹10 and the post-division issued subscribed & paid-up share capital will be 52,412,625 shares at a face value of ₹2.

The shares of Shreeji Translogistics Ltd closed today at ₹389.35 apiece on the BSE, down by 2.32% from the previous close of ₹398.60. The stock had touched a 52-week-high of ₹509.10 on (14/11/2022) and a 52-week-low of ₹74.90 on (01/12/2021), indicating that at the current market price the stock is trading 23.52% below the 1-year high and 419.82% above the 1-year low. The stock has produced a multibagger return of 380.00% over the past year, and so far in 2022, it has produced a multibagger return of 132.26% on a YTD basis. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 72.70% and a public stake of 27.30%.