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

With a market capitalization of 641.65 crore, Innova Thinklabs is an IT-related small-cap firm. Innova Think labs Limited is in the business of developing software and applications. The registered office of the business is in Jaipur, Rajasthan, where management is based. The corporation has set a record date for determining shareholders’ eligibility for the 1:1 Bonus.

“We wish to inform you that the Board of Directors has fixed Thursday, March 30, 2023 as the ‘Record Date’ in accordance with amended Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. New Equity Bonus Shares at a price of Rs. 10 each to determine whether shareholders are eligible for the issuance of 1,02,50,000 Bonus Equity Shares in a ratio of 1:1 (1). Innova ThinkLabs stated this in a filing with the stock exchange.

“We wish to inform you that a meeting of the Company’s Board of Directors will be held on Friday, March 31, 2023, at the Company’s Registered Office at Plot No. D-41, Jawahar Nagar, Patrakar Colony, close to Moti Dungri Extn. In a stock exchange filing, the board of directors of Innova ThinkLabs stated, “as approved by the shareholders in the Extraordinary General Meeting for the allotment of 1,02.50,000 Bonus Equity Shares.”

The company’s net revenue was recorded at 61.92 crore in FY22, compared to the 60.61 crore reported in FY 2011. In FY22, the company’s net expense was 35.58 crore, compared to 41.75 crore in FY21. According to Innova ThinkLabs, its EPS increased from 20.46 in FY22 to 15.48 in FY21, and its net profit increased from 21.47 Cr in FY22 to 15.55 Cr in FY21.

On Friday, shares of Innova ThinkLabs decreased by 4.86 percent from their previous close of 658.00 to close at 626.00 each level on the NSE. In the past five years, the stock has generated a multibagger return of 563.14 percent and a multibagger return of 738.58 percent in the past three years. The stock has gained 48% over the past year, but it has lost 10% in the past month. The business had a public shareholding of 26.81 percent and a promoter shareholding of 73.19 percent as of Q2FY23.

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