1:5 Bonus Share Recommended: Penny Stock Soars 101% YTD, Issues Update On Warrants

Small cap company operating in the civil construction industry PVV Infra Ltd on April 39, 2024 recommended 1:5 bonus share implying shareholders will be eligible to receive 1 bonus share for every 5 shares held as in the record date. The company is yet to declare record date for the corporation action of bonus issue. Last trading price of PVV Infra share on BSE is Rs 42.14 per share with intraday gain of 1.08%. PVV Infra shares soared 83% in last 1-month and surged 211% in last 1-year. More details given below:

PVV Infra Recommends Bonus Issue, Gives Update On Warrants: As per the regulatory filing of PVV Infra dated April 29, 2024, "the Board of Directors of the Company at their meeting held today i.e. on Monday, April 29, 2024, inter-alia, considered and approved the following business items:

Issue of 1 (one) Bonus Shares for every 5 (Five) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time."

Further it is to be stated that the Company has 10,00,000 (Ten Lacs) outstanding convertible warrants. The said warrant holders shall also be eligible for the bonus issue of equity shares post conversion of such warrants into Equity Shares.

The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and either corporate action(s), recommended and declared after the issue and allotment of such Bonus Shares, added the BSE filing.

Increase In Authorised Share Capital: The BSE filing added, "the Board has proposed to increase the authorised share capital of the Company from existing Rs. 27,00,00,000/- (Rupees Twenty seven Crore only), to Rs. 30,00,00,000/- Rupees Thirty Crores only). In order to reflect the proposed change in Authorised Share Capital, the Board proposed consequential alteration in Clause V i.e. Capital Clause of Memorandum of Association."

PVV Infra Shareholding: Promoters have increased holdings from 6.54% to 26.65% in March 2024 quarter. FII/FPI have decreased holdings from 1.00% to 0.48% in March 2024 quarter. Number of FII/FPI investors remains unchanged at 1 in March 2024 quarter

PVV Infra Share Performance & Return: The 52-week high price of PVV Infra share on BSE is Rs 43.00 per share (as on 29/04/2024) and 52-week low price is Rs 11.85 per share (08/05/2023), respectively. PVV Infra share surged 94% in last 3-months, jumped 102% in last 2-years, and gained 732% in last 3-years.

About: PVV Infra offers engineering, designing, planning, and execution of infrastructure work. It owns, builds, operates, and transfers power generating plants. The company is also engaged in the construction of houses, industrial parks, multiplexes, shopping complexes, and townships, among others.

Disclaimer: The stock highlights the bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.