Multibagger Penny Stock Issues Bonus Share Allotment Update, Shares Fall 9.55%

Small cap company engaged in civil construction industry PVV Infra Ltd shares declined 9.55% in last 1-week but gained 102.8% in last 1-year. Today, PVV Infra informed via its BSE filing that the Board of Directors of the Company in their meeting held today has made allotment of 47,96,361 fully paid-up Bonus Equity Shares of Rs. 10/- each in the ratio 1:5 One Equity Share of Rs. 10/- each for every Five Equity Share of Rs. 10/- each held by the shareholders of the Company as on the record date (June 21, 2024), in accordance with SEBI (ICDR) Regulations, 2018 and applicable rules. Last trading price of PVV Infra share on BSE is Rs 23.21 per share. PVV Infra has a market capitalisation of Rs 66.44 crore. Earlier on April 29, PVV Infra recommended bonus share in the ratio of 1:5 implying shareholders would be eligible to receive 1 bonus share for every 5 shares held as on the record date that was June 21, 2024. Check more details below:

PVV Infra Issues Update On Warrants: As per the regulatory filing, "Further it is to be stated that the Company said Warrant holders shall also be eligible for the bonus issue of equity shares post conversion of such warrants into Equity Shares. The Company has also kept a reserve of Rs. 20,00,000/- (Rupees Twenty Lacs Only) for the purpose of bonus issue of equity shares to the warrant holders, as the case may be, post conversion into equity shares by capitalisation of Securities Premium account and/or reserves & surplus. The Board of Directors of the Company have reserved 2,00,000 bonus shares for 10,00,000 (Ten lakhs) number of outstanding warrants as on record date has been converted into equivalent number of equity shares on 21/06/2024, shall be eligible for allotment of Bonus equity shares in the ratio of 1:5 (i.e. One equity shares for every five equity shares held)."

PVV Infra Share Performance & Return: PVV Infra share fell 20% in last 1-month, gained 22% in last 6-months, zoomed 54% in last 2-years, and rallied over 378% in last 3-years. 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 12.01 per share (08/08/2023), respectively.

Bulk Deal: The latest bulk deal for PVV Infra Ltd took place on June 21, 2024 on BSE. A total of 226,000 shares were traded at an average price of Rs 23.68.

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 share allotment 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.