SME IPO declares 2:1 bonus shares, scrip rallies 460% in 6 months of listing

Market


Jayant Infratech Ltd is a small-cap company having a market cap of 147.25 Cr and the stock comes under the S&P BSE SME IPO index. The company is involved in both railway electrification and infrastructure projects. Incorporated in 2003, Jayant Infratech Ltd got listed on the BSE on July 13, 2022.

Today the company said in a stock exchange filing that “this is to inform you that the Meeting of the Board of directors was held today Friday, January 20, 2023 at the registered office of company at Mangal Smriti Bajpai Ground, Tilak Nagar Bilaspur-495001 have inter alia; 1. Considered and approved, Subject to the approval of Shareholders, Increase in Authorized Share Capital of the Company, from the Present Rs. 5,00,00,000/- divided into 50,00,000 Equity Shares of Rs.10 each to Rs. 10,00,00,000/- divided into 1,00,00,000 Equity Shares of Rs. 10/- each and that the Capital Clause (Clause V) of Memorandum of Association of the Company be altered accordingly. 2. Recommended the issuance of bonus equity shares in the ratio of 2:1 [i.e (two) bonus equity shares of Rs. 10 each for every 1 (One) fully paid-up equity share held as on record date] subject to the approval of Shareholders. All fractions of bonus equity shares will be rounded-off. The record date for reckoning eligible shareholders entitled to receive bonus shares will be communicated later.”

The Board of the company further informed stock exchanges that the pre-bonus issue paid-up share capital is Rs. 3,23,55,620/- consisting of 32,35,562 equity Shares of Rs. 10/- each and the post-bonus paid-up equity share capital shall be Rs. 9,70,66,860/- consisting of 97,06,686 equity Shares of Rs. 10/- each.

The free reserves and/or share premium required for implementing the bonus issue is Rs. 6,47,11,240/- will be utilized from balance of securities premium account for the implementation of the bonus issue. As per the audited balance sheet as on March 31, 2022, balance of securities premium account is Rs. 67,494,260.

Jayant Infratech IPO was opened on Jun 30, 2022, and closed on Jul 5, 2022. The number of shares in the Jayant Infratech IPO lot was 2000. On July 5, 2022, there are 4.00 times as many subscribers to the Jayant Infratech IPO. The retail sector got 3.76 times the public issue subscriptions, followed by 4.23 times for NII. An SME IPO with 924,000 equity shares with a face value of Rs. 10 and a total value of up to Rs. 6.19 Crores was offered by Jayant Infratech. The price of the issuance is 67 per share and 2000 shares were the required minimum order quantity. 876,000 equity shares were issued in the public offering of Jayant Infratech under which 438,000 shares were issued for non-institutional investors, and 438,000 shares to retail investors.

The shares of Jayant Infratech Ltd closed today on the BSE at 455.10 apiece level, up by 1.97% from the previous close of 446.30. The stock recorded a total volume of 5,500 shares compared to the 20-Day average volume of 20,082 shares. Since its listing, the stock has rallied by 467.17% so far, creating an all-time high record.


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