With 909% return in 3 years, this multibagger stock announces 1:1 bonus share issue

BLS International Services in its board meeting held on Monday has announced a 1:1 bonus share issue.

For the purpose, the company will be issuing as many as 20,54,10,000 Equity Shares of Re 1/- each. And these bonus shares will be issued of free reserves created out of profits of the company.

“Recommended the bonus issue of equity shares in the proportion of 1 new equity share of Re 1/- each for every 1 existing Equity Share of Re 1/- each held by the shareholders of the company as on the record date (to be determined),” said the company’s filing with the exchange.

The stock has rallied recently after ace investor Shankar Sharma bought a stake in the company via a bulk deal.

The stock is a year-to-date multibagger with 259% return, while in the last 1-year it has rallied by 195%.

BLS International Services, based out of New Delhi, is an online visa application centre in India provides visa consultancy services for individual, student, family and many more.