IT stock sets record date for 1:1 bonus shares, scrip up over 700% in 3 years

India's Forex Reserves

A small cap business in the IT sector, Innovana Thinklabs has a market valuation of $641.65 Cr. Development of software and applications is what Innovana Thinklabs Ltd does. The company’s registered office in Jaipur, Rajasthan, is where the operations are managed. For the purpose of determining whether shareholders are eligible for the 1:1 bonus issuance, the corporation has fixed a record date.

We would like to inform you that the board of directors has set Thursday, March 30, 2023 as the “Record Date” for the purpose of determining the eligibility of Shareholders for the issuance of 1,02,50,000 Bonus Equity Shares in the ratio of 1:1 (one (1) new equity Bonus share of Rs. 10/- for every one (1) existing equity share), pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended “According to a stock exchange filing by Innovana Thinklabs.

We would like to let you know that on Friday, March 31, 2023, a meeting of the Board of Directors of the Company will be held at the Company’s registered office, which is located at Plot No. D-41, Patrakar Colony, Near Jawahar Nagar Moti Dungri Vistar Yojna, Raja Park, Jaipur, 302004, India, for the purpose of allocating 1,0250,000 Bonus Equity Shares that have been approved by shareholders at an Extraordinary General Meeting “Innovana Thinklabs’ Board of Directors stated in a stock exchange filing.

In FY22, the company reported net sales of 61.92 crores, up from the FY21 figure of 60.61 crores. The company’s net expenses were 35.58 crores in FY22 compared to 41.75 crores in FY21. According to Innovana Thinklabs, its net profit was 21.47 crores in FY22 as opposed to 15.55 crores in FY21, and its EPS was 20.46 as opposed to 15.48 in FY21.

The closing price of Innovana Thinklabs’ shares on the NSE on Friday was $626.00 per share, a decrease of 4.86% from the previous close of $658.00. The stock has generated multibagger returns of 738.58% over the past three years and 563.14% over the preceding five years. The stock has increased by 48% over the past year, although it fell by 10% in the month prior. The company reported that during Q2FY23, promoter shareholding was 73.19% and public stakeholding was 26.81%.