This microcap stock’s 1:8 bonus issue, 1:5 stock split record date tomorrow. Do you own?

Microcap stock Sellwin Traders, earlier in the month of September, had announced a bonus share issue in the ratio 1:8 along with a 1:5 stock split while fixing November 1 as the record date for the purpose.

Since November 1 is a market holiday, October 31st becomes the ex-date. This means that in order to qualify for the said dividend, one needs to buy the shares of Sellwin Trader today for their names to appear in the company’s books as of the record date.

“We wish to inform you that the Company has fixed Friday, November 01, 2024 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every 1 (One) Equity share of face value of Rs. 10/-(Rupees Ten only) each fully paid up to 5 (Five) Equity shares of the face value of Rs. 2/- (Rupee Two only) each fully paid-up,” said the company’s exchange filing commenting on the stock split.

This is the first ever instance instance of the company proceeding with a stock split as well as a bonus share issue, according to the data available on Trendlyne.

“We wish to inform you that the Company has fixed Friday, November 01, 2024 as the ‘Record Date’ for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid up Equity Share having face value of Rs. 2/- each for every 8 (Eight) existing fully paid up Equity Share having face value of Rs. 2/- each,” the company’s filing regarding the bonus issue of shares said.

The shares of Sellwin traders have more than doubled in the last one, while giving 111% returns on a YTD basis alone.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)