Small-cap multibagger stock: Welcure Drugs and Pharmaceuticals share price plunged nearly 5 per cent to ₹11.33 in Monday’s trading session after the board announced key decisions on Friday, August 22.
Welcure Drugs and Pharmaceuticals share price has delivered positive returns in the near-term. The small-cap stock has ascended over 18 per cent in a month and nearly 67 per cent in six months. The stock has given multibagger returns to its long-term investors by soaring over 466.5 per cent in five years.
Welcure Drugs and Pharmaceuticals key announcements
On Friday, the company announced that the board has considered and approved stock split and bonus share issue in the ratio of 1:10 and increase in authorised share capital of the company.
The record date for the stock split and bonus share issue are yet to declared by the company.
“The Board has considered and approved Sub-division/ split of the existing Equity Shares of the Company, such that each Equity Share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up, be sub-divided/split into such number of Equity Shares having face value of Rs. 1 each fully paid-up, subject to the approval of Equity Shareholders of the Company through Postal Ballot. The Record Date for sub-division/split of existing Equity Shares shall be decided after taking aforesaid approval of the Equity Shareholders of the Company,” the company said in an exchange filing.
The board has also approved the issue of Bonus Shares in the ratio of 1:10 (One bonus equity shares for every Ten equity share) to the eligible equity shareholders of the company.
The company further announced that it has also increased the increase in the authorized share capital of the company from ₹186,00,00,000 to ₹196,00,00,000.
“The Board has Considered & approved the Increase in the Authorized Share Capital of the Company from Rs.186,00,00,000/- to Rs. 196,00,00,000/- subject to the approval of the members,” it added.
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