With a market valuation of €180 Cr, Vinny Overseas Limited is a small cap company engaged in the textile industry. The company is one of the most modern fabric manufacturers. Vinny Overseas is one of the multibagger IPO stocks likely to be in focus tomorrow as the company’s board is due to meet tomorrow to announce bonus shares and a stock split.
The company stated in a stock exchange report: “We would like to inform you that the meeting of the board of directors of the company is scheduled to take place on Monday, January 16, 2023 at 3:30 p.m 1. Reviewing, approving and recommending a split/sub-division of Company stock 2. Consider increasing the Company’s authorized share capital 3. Consider a consequential amendment to the capital clause of the company’s memorandum and articles of incorporation, if any. 4. Reviewing the issuance of bonus shares to the Company’s shareholders. 5. Determining the date, time and place for holding the Extraordinary General Meeting of the Company and approving a draft notice to that effect. 6. Examination and appointment of an auditor for the fair and transparent conduct of the Extraordinary General Meeting. 7. All other business with the approval of the Chairman.”
Vinny Overseas Limited shares closed on the NSE on Friday €178.65 per share, up 5.00% from the previous close of €170.15. The stock saw total volume of 9,936 shares compared to the 20-day moving average volume of 29,508 shares. The stock was listed on November 28, 2022 and has been rising ever since €40 per share at the current market price, generating a 495% multibagger return.
On a YTD basis, the stock is up 21.32% so far in 2023. The share price rose from €44 at the current market price over the past six months, resulting in a multibagger return of 306.02%. Though the stock is up 58.17% over the past month, it’s down 4.87% in the last five trading days. Vinny Overseas IPO opened on September 28, 2018 and closed on October 3, 2018. The maximum emission size was €10.38 Cr, and the issue price was fixed at €40 per share.
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