4,000 per cent returns: Multibagger NBFC stock in green after Board approves allotment of 55,00,000 shares to promoters and 2,00,00,000 shares to non-promoters via preferential issue!

The stock gave multibagger returns of 355 per cent in just 1 year and a whopping 4,000 per cent in 3 years.

Today, shares of Mufin Green Finance Ltd gained 3.56 per cent to Rs 179.10 per share from its previous closing of Rs 172.95. The stock’s 52-week high is Rs 184.05 and its 52-week low is Rs 34.19.

The sudden rise in the stock price was due to the Committee of Directors (for preferential issue) of the Mufin Green Finance Ltd in their meeting held on i.e. December 27, 2023, had approved the allotment of 2,55,00,000 warrants convertible into equity shares of the company, in one or more tranches, having face value of Rs 1 each, at Rs 55 per equity share (including premium of Rs 54 each), aggregating to Rs 1,40,25,00,000 (towards 25 per cent of the issue price paid by the allottees).

The Board allocated 55,00,000 shares to promoters and 20,00,0000 shares to non-promoters via the preferential issue.

Earlier, Mufin Green Finance, a green finance leader, teamed up with battery expert UrjaMobility to electrify India's roads. They're powering rickshaw fleets with super-durable, high-tech Li-Ion batteries lasting over 2,000 charges and 4 years. These batteries even connect to financial platforms for remote control and tracking! This isn't just tech; it's helping people. The booming E-Rickshaw market (already 6,00,000 units, projected to hit 1 million by 2030) is getting a boost.

UrjaMobility's "Battery-as-a-Service" model tackles the high cost of replacements with affordable monthly leases, helping drivers and the environment. They aim to deploy 10,000 batteries initially, paving the way for a future where all two-wheelers (including delivery bikes) are electric, impacting countless lives and benefiting the growing 5 million gig worker last-mile delivery sector.

Mufin Green Finance Limited operates as an investment firm. The company offers investment advisory, asset management, capital preservation, and financial planning services. The company has a market capitalization of over Rs 2,600 crore and has delivered good profit growth of 150 per cent CAGR over the last 5 years.

Quarterly Results: The net sales increased by 221 per cent to Rs 21.13 crore, operating profit increased by 296 per cent to Rs 14.27 crore and net profit increased by 98 per cent to Rs 4.01 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 254 per cent to Rs 38.65 crore, operating profit increased by 351 per cent to Rs 25.29 crore and net profit increased by 135 per cent to Rs 7.46 crore in H1FY24 compared to H1FY23.

The stock gave multibagger returns of 355 per cent in just 1 year and a whopping 4,000 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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