Shares of SecMark Consultancy hit a new 52-week high of Rs 250.45, up nearly 10% on the BSE, after the company’s board approved the issue of bonus shares.

On August 23, the board of directors approved the issuance of 3 shares of paid-up share capital to shareholders for every two shares of existing share capital. This requires approval from the company’s shareholders, SecMark said in a regulatory filing.

Under Chapter IX of the SEBI (ICDR) Regulations 2018, the board also approved the transfer of the company’s current listing from BSE Limited’s SME platform to BSE Limited’s main board and listing on the main board of the NSE, subject to the approval of the company’s shareholders, BSE Limited, NSE Limited or other relevant authority.

The company further mentioned in the filing document that due to changes in the company’s authorised share capital, the board of directors is also considering amending the company’s articles of association, pending approval.

The company provides consulting, technology and outsourcing services to market participants. It has developed an Order Management System (OIMS) for order management of intermediaries and assists in operations, risk management and process review of leading entities such as Aditya Birla Money, Edelweiss Broking, Paytm Money etc.

SecMark Consultancy’s consolidated net profit rose 68.2% to Rs 2.64 crore in FY22, while total revenue rose 87.1% to Rs 15.17 crore.