Multibagger chemical stock announces record date for 1:2 bonus shares

Market


Small-cap firm Yug Decor Ltd operates in the chemical industry and has a market worth of 38.78 Cr. All adhesives, including contact adhesive, PVA glue, wood glue, and shoe glue, are produced by Yug Decor. The company is headquartered in India and exports products to Asia, Europe, and Africa. In Bangladesh, Dubai, Saudi Arabia, Ethiopia, Iraq, Mozambique, Nepal, Sri Lanka, Tanzania, and Yemen. Under the brand name YUG-COL, the firm produces a variety of adhesives, including synthetic binders, synthetic rubber adhesives, synthetic resin adhesives, natural rubber adhesives, and footwear adhesives. For the purpose of 1:2 bonus shares, the company has announced the record date which shareholders and potential investors should be aware of.

In the previous month, the company announced by saying that its Board of Directors considered and approved “Issue of 1(one) Bonus Share for every 2 (two) Equity Shares held by the Equity Shareholders of the Company as on “Record Date”. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals as may be required.”

The Board further announced that they have approved “Increase in Authorized Share Capital of the Company from 4,25,00,000/- (Rupees Four Crores Twenty Five Lakhs Only) to 11,00,00,000/- (Rupees Eleven Crores Only) by creation of additional 67,50,000 (Sixty-Seven Lakhs Fifty Thousand) Equity Shares of 10 (Rupee Ten) each and consequent amendment to clause V of the Memorandum of Association of the Company, subject to approval of the shareholders and such applicable statutory and regulatory approvals.”

Details of Share Capital – Pre and Post Bonus Issue

Pre-Bonus Issue: The Paid up Equity Share Capital on the date of the letter is 4,16,97,660 consisting of 41,69,766 Equity Shares of Rs. 10 each.

Post Bonus Issue: The paid-up Equity Share capital will be 6,25,46,490 consisting of 62,54,649 Equity Shares of 10/- each.

For the purpose of bonus shares, the company informed stock exchanges today by saying that “In continuation of our intimation on outcome of the Board Meeting held on August 16, 2022, pertaining to the recommendation of Issue of Bonus Shares, the Company has fixed the ‘Record Date’ i.e., Friday, September 30, 2022 to determine eligible shareholders entitled to receive Bonus shares as approved in the 19th Annual General Meeting (AGM) of the Company held on September 20, 2022.”

The last traded price for the shares of Yug Decor Ltd was 93.00. The stock has produced a multibagger return of 329.16% over the past five years, and a multibagger return of 407.36% in 1 year. The stock has produced a multibagger return on a YTD basis of 438.51% and a multibagger return on a 6-month basis of 338.06%.

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