₹13 to ₹163: Blue Cloud Softech’s Multibagger Penny Stock Announces 2:1 Split – What’s Next?

Blue Cloud Softech Solutions’ shares fell by over 2% on Thursday after the company announced that its board had approved a stock split. The small-cap penny stock, which has become a multibagger, dropped as much as 2.65%, trading at ₹160.30 per share on the BSE.

On October 16, 2024, the company’s Board of Directors approved splitting its shares in a 2:1 ratio. This means that every 1 existing equity share with a face value of ₹2 will be split into 2 shares with a face value of ₹1 each.

The company explained that the stock split aims to increase liquidity and make it easier for smaller investors to trade its shares. The entire process is expected to take two to three months, which includes getting approval from shareholders and regulators.

Before the split, the company’s total issued, paid-up, and subscribed share capital stands at 21,81,40,800 shares. After the split, it will double to 43,62,81,600 shares.

Blue Cloud Softech Stock Performance

The stock has fallen 5% over the last month and 40% in the past three months. However, Blue Cloud Softech Solutions has delivered a remarkable 182% return year-to-date. Over the past year, the stock has gained over 90%, and in the last three years, it has surged by more than 1,400%.

As of 2:55 pm on Thursday, Blue Cloud Softech shares were down by 1.85%, trading at ₹161.60 on the BSE.