Ashish Kacholia’s portfolio multibagger penny stock: The company signs binding term sheet with Zinnia Global Fund and Nova Global Opportunities Fund – know more here!

The stock is up by 61 per cent from its 52-week low of Rs 37.05 per share and down by 21.3 per cent from its 52-week high of Rs 75.80 per share.

DU Digital Global Limited informed that the company has entered into agreements with two investors, Zinnia and Nova, for a potential investment of up to Rs. 14.4 crore through convertible warrants. These warrants can be converted into shares at a later date. The company plans to use the funds for working capital, capital expenditure, and general corporate purposes. However, the investors' commitments are dependent on approvals from the National Stock Exchange of India and the company's shareholders. In simpler terms, the company has secured potential funding from two investors, but the final approval and usage of funds are subject to certain conditions.

The Board of Dudigital Global Limited greenlit a multi-pronged financial support package for its subsidiaries: an Rs 8.5 crore inter-corporate loan to wholly-owned Dudigital Global LLC for operational needs, an Rs 8.5 crore investment in other subsidiaries or new ventures potentially tied to the company's expansion plans, and an additional Rs 30 lakh loan to OSC Global Processing Private Limited. This comprehensive funding demonstrates the Board's commitment to bolstering its subsidiary network.

DU Digital Global Limited is a company that manages the human interface between visa applicants and the technical visa processing unit of embassies in other countries. The company also provides other services related to visas, passports, and other citizen services.

Today, shares of DU Digital Technology Limited were locked in a 5 per cent upper circuit to Rs 59.65 per share from its previous closing of Rs 54.40. The stock is up by 61 per cent from its 52-week low of Rs 37.05 per share and down by 21.3 per cent from its 52-week high of Rs 75.80 per share. In a span of 3 years, the stock gave multibagger returns of 1,895 per cent to its investors.

In the current financial year, the company issued bonus shares in the ratio of 3:1, meaning that for every 1 existing share, shareholders received 3 new shares. The ex-date for the bonus shares was Friday, June 02, 2023.

DU Digital Global Limited is a well-established company with a strong track record of profitability. The company is well-positioned for growth in the future, as the demand for its services is expected to increase. The company has a market cap of Rs 416 crore and reported positive numbers in its half-yearly results (H1FY24) and annual results (FY23).

Ace Investor, Ashish Kacholia has increased his stake in DU Digital Global Limited to 9.15 per cent by purchasing an additional 4.19 per cent stake in October 2023. This is a significant development for the company, as it demonstrates that a well-respected investor is confident in its future prospects.

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