Multibagger Small Cap Stock Announces Stock Split, Gave More Than 100% Return In 1 Yr

Iris Clothing Ltd. on June 21, 2023, considered the proposal for sub-Divide/split. 1 Equity Share of the face value of Rs. 10 each will be sub divided/split into 5 Equity Shares of the face value of Rs. 2 each. The considered Bonus Issue is subject to approval by the shareholders of the company. The record date for the Bonus Issue is not announced. It shall be decoded by the Board and will be intimated to the Stock Exchange.

This is NSE listed small cap Apparels sector company engaged in designing, manufacturing, branding and selling garments for kids. It has a market valuation of Rs. 699.55 crore.

Split/Sub-division of equity shares of the Company

According to an exchange filing by the Board of Directors of Iris Clothing Ltd., "The Board had considered the proposal for sub-division of 1 equity share of the Company having face value of Rs. 10/- each into 5 (Five) equity shares having face value of Rs. 2/- each, subject to regulatory /statutory approvals as may be required and the approval of the shareholders of the Company. The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the Stock Exchange."

Stock Movement

On Friday, the stock fell 0.44%, last traded at Rs. 428.80 apiece. The stock surged 1.62% in 1 week. While, it jumped 13.94% in 1 month and 38.17% in 3 months, respectively. It has given 114.24% multibagger return in 1 year and 693.25% multibagger return in 3 years.

The stock hit the 52 week high at Rs. 433 apiece on 22 June 2023 post the announcement of the Stock Split. While the stock hit the 52 week low on 18 August 2022 at Rs. 177 apiece.

Disclaimer

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