Multibagger stock that surged 650% in 2022 declares record date for stock split

Stock split 2023: Shares of Rajnish Wellness Ltd are one of the multibagger stocks of 2022. The SE SME stock that has surged to the tune of 650 per cent in the year gone by is soon going to trade ex-split in January 2022. As per the information available on BSE website, the board of directors of the small-cap company has fixed record date for ascertaining eligible shareholders for the stock split benefit. The board of directors of the small-cap company has already announced stock subdivision in 1:2 ratio. This means, one stock of an eligible shareholder will tune to two shares of face value Re 1 per equity share.

Informing Indian stock market exchanges about the stock split decision, the small-cap company said, “With reference to the above cited subject, we would like to inform to the exchange that Board of the Directors of the Company have fixed on Tuesday, 10th January 2023 as the ‘Record Date’, for ascertaining eligibility of shareholders entitled for corporate action of – Sub-division/split of equity shares of the company, 1 (One) equity share having face value of Rs. 2/- (Rupees Two only) each into 2 (Two) equity shares of Re. 1/- (Rupee One only). You are requested to take the above cited information on your record.”

Rajnish Wellness share price history

As mentioned above, Rajnish Wellness shares are one of the multibagger stocks in 2022. However, the stock is trading much below its all-time high of 51.58 apiece that the BSE SME stock had surged in July 2022. In last six months, this SME stock has given negative return as it has remained bears’ favourite ‘sell on rise stock’ after climbing to its life-time high. In last six months, this small-cap multibagger stock has shed to the tune of 35 per cent. However, in last one year, this stock has risen from around 4 to 30.75 apiece levels, recording around 650 per cent rise in this time.

The BSE SME stock was offered in July 2018 at a fixed price of 95 apiece. The SME stock listed on BSE SME exchange at 100 apiece levels and finished on the listing date at 100.15 after making intraday high of 104.70 on its listing date i.e. July 9, 2018. After listing on BSE SME exchange, this SME stock traded ex-split in July 2022 in 1:5 ratio as the stock has split from the face value of 10 to 2 per equity share. Now, after near one and half years, the small-cap company has again decided to split its stock from the face value of 2 to Re 1 apiece.

The small-cap multibagger stock has traded ex-bonus twice as well post-listing. It traded ex-bonus in July 2022 and December 2021. In July July 2022, it traded ex-bonus for issuance of bonus shares in 2:1 whereas in December 2021, Rajnish Wellness shares traded ex-bonus for issuance of bonus shares in 5:4 ratio.

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