SME stock up 400% in 2 years of IPO, Board to issue bonus shares or stock split

SME stock up 400% in 2 years of IPO, Board to issue bonus shares or stock split


With a market worth of 52.31 Cr, RO Jewels Ltd. is a small-cap company that operates in the consumer discretionary industry. The company, which deals in the wholesaling of gold and silver chains, has its registered office in Ahmedabad. The company has announced that its Board of Directors is all set to consider and approve either issue of bonus shares or stock split next week.

The company has said in a stock exchange filing that “We hereby inform pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that a Meeting of the Board of Directors of the Company will be held on Thursday, 29% December, 2022 at 3:00 P.M. at the registered office of the company. 1. To consider and approve either issue of Bonus Shares or Stock Split 2. To transact any other matter with prior approval of Chairman.”

The shares of RO Jewels Ltd closed today on the BSE at 51.85 apiece level after hitting a fresh 52-week-high of 52.10, up by 4.43% from the previous close of 49.65. The stock recorded a total volume of 107,155 shares. An SME IPO with 1,365,000 equity shares with a face value of Rs. 10 and a total value of up to Rs. 4.91 Crores is the RO Jewels IPO. The price per share for the issuance is 36 and the RO Jewels Initial Public Offering (IPO) begins on March 12, 2020, ends on March 17, 2020, and got listed on March 25, 2020. 

The stock has appreciated 412.86% marking an all-time high since it was listed on stock exchanges in two years after its IPO. The stock has produced a multibagger return of 659.51% over the last year, and so far in 2022, it has generated a multibagger return of 661.38% on a YTD basis. The stock has appreciated 286.94% over the past six months and 73.12% in 1 month. The stock had touched a 52-week-low of 4.05 on (29/03/2022), indicating that after making a new 1-year high today the stock was last seen trading 1,180.24% above 1 year low. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 20.30% and a public stake of 79.70%.

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