Informing Indian stock market exchanges about the stock split news, Colorchips New Media Ltd said, "The Board recommended the Split/Sub-division of shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.2/- each, subject to the approval of Members of the Company in the 37" Annual General Meeting. The record date for the sub-division of shares shall be intimated in due course," adding, "Pursuant to the aforesaid sub-division of shares, if the same has been approved by Members of the Company in the 37" Annual General Meeting, the Board has recommended to alter the Capital Clause i.e., Clause V of the Memorandum of Association of the Company."
Colorchips share price history
As mentioned above, this small-cap stock is one of the multibagger stocks in 2022. It has surged from around ₹50 to ₹125 apiece levels in last one month, delivering around 150 per cent in this period. Similarly, in last six months, it has delivered more than 200 per cent return whereas in YTD time, it has surged from around ₹23 to ₹125 apiece levels, ascending to the tune of near 450 per cent in this time.
Company attracts fresh investment
The small-cap company is in news for attracting ₹200 crore investment from Gem Global Emerging Markets — an alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world. The Investment will be made in the form of Share Subscription Facility (“SSF"). This SSF, subject to certain restrictions, can be drawn down at the Company’s option with the Company issuing shares to the investors in return for funds.
Colorchips New Media Ltd is engaged in the business of production and distribution of cinematography films, ad-films, television films, video films, cartoon films, 3-D films, animation films and to provide all kinds of services related to production of animation films and all other movies, picture films, toys and to acquire, sell any right in relation thereto and carry on the advertising business in all its branches. The company is successfully distributing its content on You Tube, Facebook, and Share chat etc. through its wholly owned subsidiary M/s. Vega Music Pvt. Ltd., partnership to distribute through Amazon Prime Videos is in progress. Company currently has more than a crore of subscribers on You Tube operates under brand name of TVNXT and Vega Music. Company owns digital and other rights for over 4,000 feature films in seven Indian languages as mentioned below. Some of which are all time block busters.
