Bondada Engineering, an SME IPO, is set to turn ex-split this week for its stock sub-division in the ratio of 1:10. The stock is currently near Rs 3,445 and gained nearly 725% in 2024 so far. The stock is overvalued and has decided to split to improve liquidity and become cheaper for both new and existing customers. The SME IPO will split into ten small shares. And the last date to be eligible is scheduled on September 2, 2024.
Bondada Engineering Share Price:
This smallcap SME IPO stock ended at Rs 3444.95 apiece, with a market cap of Rs 7,441.80 crore on August 26. The stock's 52-week high and low are at Rs 3,769.90 apiece and Rs 148.35 apiece respectively.
In August month alone, the stock zoomed by 21.07% on BSE. While year-to-date, the stock skyrocketed by a whopping 724.74%. The stock was at Rs 417.10 level at the start of January 2024. In a year, the stock has given breathtaking 1,998.20% returns. On September 1, 2023, the stock was merely at Rs 163.95.
Bondada Engineering Stock Split:
The company has fixed Monday, September 2, 2024, as the "Record Date" for determining entitlement of Equity Shareholders for subdivision/ split of existing Equity Shares of the Company, such that 1 (one) equity share having a face value of Rs. 10/- (Rupees Ten only) each, fully paid up, will be sub-divided into 5 (Five) equity shares having the face value of Rs. 2/- (Rupees Two only) each, fully paid up, ranking pari-passu in all respects.
The stock split ratio is 1:10 hence. Only those shareholders will be eligible who are holding Bondada shares by the end of the record date in their demat accounts. Any new buying after September 2, will not be eligible for the stock split benefits.
Bondada Engineering Update:
on August 31, 2024, the company inaugurated "Bondada Industrial Park-II" at Ankireddipally, Hyderabad, to cater to global standard manufacturing facilities for its subsidiaries.
Also last week, Bondada announced that it received a Letter of Award from a host of companies namely Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy.
The companies are special purpose vehicles (SPVs) formed by the PPA owners namely Paradigm IT Technologies Pvt Ltd and Metalcraft Forming Industries Pvt Ltd, both are software companies based out of India.
The order is of Design, Survey, Supply, Installation, Testing, and Commissioning of grid-connected distributed Solar Power Plants for Solarization of selected Agri feeders at the Substation (SS) level in MSEDCL jurisdiction, its associated 11 kV line to connect the plant with concerned SS and Remote Monitoring System (RMS) of solar power plants. The overall capacity of the plants is 170.40 MW on a DC basis. The contract value is Rs 5.75 crore.
About Bondada Engineering:
Bondada Engineering Limited (BEL) is formed by a team of qualified professionals with the motto of serving the infrastructure sector by providing end-to-end solutions. The company is headquartered in Hyderabad and has made its presence felt across India.
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