Blue Cloud Softech Solutions shares dropped over 2% on Thursday after the company announced that its board approved a stock split. The small-cap multibagger penny stock declined as much as 2.65% to ₹160.30 apiece on the BSE.
The Board of Directors of Blue Cloud Softech Solutions at its meeting held on 16 October 2024, considered and unanimously approved the sub-division (split) of equity share of the company in the ratio of 2:1.
The Board of Directors of Blue Cloud Softech Solutions at its meeting held on 16 October 2024, considered and unanimously approved the sub-division (split) of equity share of the company in the ratio of 2:1.
The stock split ratio of 2:1 means sub-division of existing 1 (one) equity share of face value of ₹2 each fully paid up into 2 (two) equity shares of Re 1 each fully paid.
The rationale behind the split of equity shares, the company said, was to improve the liquidity of the company’s share on the stock market and also to facilitate small investors to deal in its shares, Blue Cloud Softech Solutions said in a BSE filing.
The expected time of completion of the stock split is approximately two to three months including the time required for seeking approval of the members and the applicable regulators, it added.
The company’s issued, paid-up and subscribed share capital before the stock split is 21,81,40,800 shares. The post-split capital structure would be 43,62,81,600 issued, paid-up and subscribed equity shares.
Blue Cloud Softech Stock Price
Blue Cloud Softech stock price has fallen 5% in the past one month and 40% in three months. However, Blue Cloud Softech Solutions is a smallcap multibagger stock which has delivered a stellar 182% returns year-to-date (YTD).
In the past one year, the smallcap stock has jumped over 90%, while it has rallied more than 1,400% in three years.
At 2:55 pm, Blue Cloud Softech shares were trading 1.85% lower at ₹161.60 apiece on the BSE.
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