Inflame is a houseware company, making cooktops, hobs, cooker hoods, gas stoves, burners, and other cooking appliances, serving customers in India and Nepal.
The stock price has hit a new lifetime high today at Rs.225, going up 10% the moment it opened for trading. It has been hitting these record highs consistently for the past few days, ever since it announced plans for a bonus issue.
Yesterday, the company informed the exchanges that the Board of Directors of the Company have fixed the record date as Saturday, March 30, 2019 for the purpose of ascertaining list of eligible shareholders to issue and allotment of Bonus Share.
The bonus is in proportion of 1 bonus equity shares for every 2 shares held.
The company had gone public in March 2018 under the SME IPO. It had offered shares at Rs.54/share and exactly after a year, shareholders stand with a capital appreciation, not just a bonus but a stock price which has appreciated over 4 times.
The company is yet to declare its Q3FY19 results. Its market cap stands at Rs.90 crore and promoters hold a 70% stake.