Growington Ventures India Ltd, also known as VMV Vacations, recently conducted a Board of Directors meeting at its Registered Office in Navi Mumbai. The key decision made during this meeting was the approval of an alteration in the company’s capital structure.
This involves a sub-division or split of existing equity shares, changing them from 1 equity share with a face value of Rs 10 each, fully paid-up, to 10 equity shares with a face value of Rs 1 each, fully paid-up. However, the implementation is subject to the approval of the shareholders of the Company.
The Record Date for the stock split will be communicated in due course. The primary objective behind this strategic move is to enhance the liquidity of equity shares and broaden the shareholders’ base, making the shares more accessible and economical for investors.
It’s worth noting that Growington Ventures India Ltd had previously issued bonus shares in the ratio of 24:100, implying that shareholders received 24 bonus shares for every 100 held as of the record date, which was Friday, March 24, 2023.
As a prominent player in the travel and tourism industry, VMV Vacations offers a comprehensive range of services, including flight bookings, vacation packages, hotels and resorts, vehicle rentals, visas, event management, and wedding planning. The company boasts a market cap exceeding Rs 350 crore and is currently debt-free.
In the stock market, Growington Ventures India Ltd experienced a notable surge today, with shares gaining 10.2 percent, reaching an intraday high of Rs 231 from the previous day’s closing at Rs 209.65. This surge also marked a fresh 52-week high for the stock. Notably, the stock has delivered impressive multibagger returns, soaring over 400 percent from its 52-week low of Rs 44.09 per share and an astonishing 2,400 percent over the past two years. Investors are advised to closely monitor this micro-cap stock for potential opportunities and market trends.
Disclaimer: The article is for informational purposes only and not investment advice.
