Multibagger small-cap stock GRM Overseas was in focus on Friday, December 15, following the announcement of the record date for its 2:1 bonus share issue. The company today announced that it has fixed Wednesday, December 24, as the record date to identify shareholders eligible for the bonus share action.
GRM Overseas, back in November, had announced the board nod for the corporate action. As part of the bonus issue, the small-cap stock will issue two fully paid-up equity shares for every one existing fully paid-up equity share held as on the record date.
Furthermore, the company said the deemed date of allotment of bonus shares shall be Friday, December 26.
Following this announcement, GRM Overseas’ share price was trading rangebound on the BSE. Its high and low for the day stood at ₹475 and ₹470.15, respectively.
In the last three months, small-cap stock GRM Overseas’ share price has rallied 33% while it has risen 27% in six months. On a year-to-date basis, it has emerged as a multibagger stock, rallying 135%. Meanwhile, in the last one year, it has surged 139%.
The company had also announced its second-quarter results nearly a month back, wherein it posted a double-digit growth in both revenue and profit.
