Multibagger High Promoter Holding Stock Sets Record Date For Free Shares 8:1

Gretex Corporate Services Ltd. is a small cap company with a market capitalization of Rs. 59.14 cr. It operates in the financial services sector. One of India’s leading financial advisory firms, Gretex Corporate Service offers IPO, valuation, business advisory and other financial services. Just a year after its IPO, the company announced its first free shares at an 8:1 ratio. The company’s board of directors has made the record date public in order to verify whether shareholders are eligible for free shares.

The company said in a regulatory filing that “This is to advise that pursuant to SEBI Rule 42 (Registration and Disclosure Requirements) 2015, that the Company has set Tuesday, October 11, 2022 as the ‘registration date’. ‘registration’ for the in order to verify the eligibility of shareholders entitled to the issue of free shares fully paid in a ratio of 8: 1 (i.e. issue of 8 (eight) capital shares for each 1 (one) existing capital share held of 10/- as on the recording date mentioned above).”

The company has decided to issue 90,98,760 shares at a price of Rs. 10, for a total proposed issue value of Rs. 9,09,87,600. The free shares will be credited or distributed by October 31, 2022, according to the company.

Pre-Bonus share capital: Authorized share capital of Rs. 1,20,00,000/- having a par value of Rs. 10/- per share. The issued share capital will be Rs. 1,13,73,450/- having a par value of Rs. 10/- per share. Paid up share capital of Rs. 1,13,73,450/- having a par value of Rs. 10/- per share.

The post-bonus paid-up share capital is expected to be approximately: Authorized share capital of Rs. 11,00,00,000/- having a par value of Rs. 10/- per share. The issued share capital will be Rs. 10,23,61,050/- having a par value of Rs. 10/- per share. Paid up share capital of Rs. 10,23,61,050/- having a par value of Rs. 10/- per share.

The last recorded trade of the stock on BSE was on September 29 at a price of 520.00 per share. Over the past year, the stock has generated a multibagger return of 151.21% and on a YTD basis, the stock has generated a multibagger return of 151.45% so far in 2022. On BSE, the stock had hit a 52-week high 607.00 on (09/20/2022) and a 52 week low of 160.00 on (03/29/2022), indicating that at the current price level, the stock is trading 14.33% below the high and 225% above the low. For the three months ended March 2022, the company recorded developer ownership of 73.48% and public ownership of 26.52%. The sponsor’s participation at the current level is well above that of its peers such as Computer Age Management Services and Central Depository Services (India) Ltd.

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