Multibagger Small-Cap Stock Hit the Upper Circuit After Revising 31 December Record Date for 3:1 Bonus and 8 January for 10:1 Stock Split After EV Acquisition

A-1 Ltd, a listed chemical trading company, has announced key corporate actions following its acquisition of a majority stake in electric vehicle (EV) manufacturer A-1 Sureja Industries. The company has fixed 31 December 2025 as the record date for its 3:1 bonus issue and 8 January 2026 as the record date for its 10:1 stock split, aimed at enhancing liquidity and rewarding shareholders.

Under the approved bonus issue, shareholders will receive three bonus equity shares of Rs 10 each for every one fully paid-up equity share of Rs 10 held. In addition, the company will undertake a stock split, subdividing one equity share of face value Rs 10 into ten equity shares of face value Rs 1 each.

These corporate actions were approved by shareholders through a postal ballot, the results of which were announced on 22 December 2025. The ballot also approved an increase in authorised share capital from Rs 20 crore to Rs 46 crore, investment in M/s A-1 Sureja Industries, and amendments to the Object Clause of the Memorandum of Association to include businesses related to sports equipment and pharmaceuticals.

In a strategic move aligned with India’s clean-energy transition, A-1 Ltd has increased its stake in A-1 Sureja Industries from 45 per cent to 51 per cent at an enterprise valuation of Rs 100 crore. A-1 Sureja Industries manufactures battery-operated two-wheelers under the Hurry-E brand and reported revenues of Rs 43.46 crore in FY 2023–24. The company is expected to scale rapidly, with a projected compound annual growth rate exceeding 250 per cent, as it transitions from research and development to full commercial operations.

The subsidiary is also exploring expansion into EV manufacturing, component production, research and development, and smart charging infrastructure. This acquisition positions A-1 Ltd among India’s first listed chemical companies to directly hold equity in a certified EV manufacturing enterprise.

Alongside its EV foray, A-1 Ltd continues to strengthen its core chemical trading business. The company recently entered into a tri-partite long-term supply arrangement involving 10,000 metric tonnes of concentrated nitric acid for the period from November 2025 to March 2026, with scope for additional quantities. Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) will manufacture the product, Solar Industries India Limited and its group entities will act as buyers and end users, while A-1 Ltd serves as the dealer for the transaction.

The company has also secured a significant order worth Rs 127.5 crore (Rs 150.45 crore including GST) from Sai Baba Polymer Technologies for the supply of 25,000 metric tonnes of automobile-grade industrial urea across multiple manufacturing locations in India. The order is expected to enhance revenue visibility and deepen A-1 Ltd’s presence in the automotive chemicals value chain.

Further reinforcing investor confidence, Mauritius-based Minerva Ventures Fund acquired 66,500 equity shares of A-1 Ltd through a bulk deal on 7 November 2025 at an average price of Rs 1,655.45 per share, amounting to a transaction value of approximately Rs 11 crore.

With a legacy spanning over five decades in industrial acid trading, distribution, and Logistics, A-1 Ltd is positioning itself as a future-ready, multi-vertical green enterprise. By 2028, the company aims to integrate low-emission chemical operations with clean mobility solutions, targeting diversified revenue streams, scalable manufacturing, and stronger participation from institutional investors in India and overseas markets, including USD-denominated opportunities.

Disclaimer: The article is for informational purposes only and not investment advice.