Small-Cap Multibagger Stock to Turn Ex-Split, Ex-Bonus on Monday

By Malvika Gurung

Investing.com -- Shares of the architectural hardware manufacturer Hardwyn India (NS: HARW ) will turn ex-split and ex-bonus on Monday. The stock has jumped 55% in the past week and almost 80% so far this year.

Hardwyn India’s Board of Directors approved the sub-division or split of existing equity shares from one share having a face value of Rs 10 each into ten equity shares with a face value of Re 1 each.

They also approved to issue bonus equity shares of the company in the proportion that one fresh equity share of Re 1 each will be issued for every three shares of Re 1 held by its shareholders at no additional cost.

Hardwyn’s Board fixed the record date for determining the members eligible for the allotment of sub-division of existing equity shares and bonus equity shares of the company as June 5, 2023.

The twin corporate actions will be subject to the approval of the small-cap company’s members by way of Postal Ballot through remote e-voting.

Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.

Hardwyn India is a multibagger stock as its shares have rallied a whopping 133% in the past one year.