Bonus Share News: Maagh Advertising Announces 1:10 Stock Split and 1:4 Bonus Shares, Igniting Surge to New 52-Week High

Maagh Advertising & Marketing Services Ltd has set the market abuzz with its recent announcement of a 1:10 stock split and a 1:4 bonus share issuance. This pivotal decision has not only captured investor attention but has also fueled a remarkable surge, propelling the company's stock to a new 52-week high. Let's delve into the details of this noteworthy development.

Company Key Metrics

The Power of Bonus Shares

Maagh Advertising has strategically revealed plans for a 1:10 stock split, an initiative aimed at enhancing shareholder value. Alongside this, the company is set to distribute bonus shares at a ratio of 1:4, a move that often signals confidence in the company's financial health and future prospects. Investors are keenly observing the implications of these decisions on the company's market dynamics.

The Surge to New Heights

Following the bonus share announcement, Maagh Advertising's stock witnessed an impressive surge, reaching a new 52-week high. The stock commenced trading at Rs 177 per share on the BSE, eventually soaring to an all-time high of Rs 177.85. This remarkable five percent increase from the previous close underscores the positive market sentiment surrounding the company's strategic decisions.

Record Date and Shareholder Eligibility

In adherence to SEBI regulations, Maagh Advertising has fixed Friday, 02nd February, 2024, as the Record Date. On this day, the company will ascertain the eligibility of shareholders entitled to benefit from the stock split and bonus share issuance. This crucial date aligns with the upcoming Extraordinary General Meeting (EGM) scheduled for Saturday, 27th January, 2024.

A Recap of Maagh Advertising's IPO Journey

Maagh Advertising's journey includes a successful SME IPO, featuring 1,520,000 equity shares with a face value of Rs. 10 each, totaling Rs. 9.12 crores. The IPO, which took place from September 26, 2022, to October 4, 2022, saw an IPO price of Rs 60 per share. The shares were officially listed on BSE SME on October 13, 2022.

About the Company

Established in 2013 in India, Maagh Advertising & Marketing Services operates as an advertising agency specializing in media-specific marketing strategies. With a market valuation of Rs 304.94 Cr, the company's recent strategic moves are generating substantial interest among investors.

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