Bonus Share News: This Small Cap Stock Surges 2%, Company Sets Record Date for 2:1 Ratio

Bonus Share News: Intellivate Capital Ventures, a small-cap player in the industrial sector, witnessed a significant surge in its stock price on Monday. The BSE opening saw a 2% upper circuit limit at Rs 124.40 per share, following the announcement of bonus shares by the company's Board of Directors.

Company Key Metrics

Bonus Share Announcement

In a filing with the stock exchange, Intellivate Capital Ventures disclosed the decision of its Board of Directors regarding the issuance of bonus shares. The company proposed a bonus share ratio of 2 new fully paid-up equity shares for every 1 fully paid-up equity share held, subject to shareholder approval.

Record Date and Shareholder Approval

The issuance of bonus shares received shareholder approval through a Special Resolution passed in an extraordinary general meeting held on January 27, 2024. The company fixed February 7, 2024, as the record date for determining shareholders' eligibility for bonus share issuance.

Transition to Dematerialized Shares

In compliance with SEBI regulations, Intellivate Capital Ventures informed physical shareholders to dematerialize their shares by the record date to receive bonus shares in their beneficiary accounts. Shares held in physical form after the record date will be transferred to a Suspense Escrow Account.

Stock Performance

Intellivate Capital Ventures' stock has demonstrated significant volatility, reaching a 52-week high of Rs 128.21 and a low of Rs 12.21. Over the past year, the stock has delivered multibagger returns of 918.84%, with a notable 210.92% gain in the last six months.

The announcement of bonus shares by Intellivate Capital Ventures has sparked investor optimism, contributing to the surge in its stock price. As the company moves towards dematerialization and shareholder value enhancement, its performance remains under scrutiny in the market.

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