Chirag Dilipkumar Lakhi & Atim Kabra - portfolio multibagger defence explosives stock; Board announce stock split & Rs 400 crore fundraise!
The stock gave multibagger returns of 504 per cent in just 1 year and a whopping 1,500 per cent in 3 years.
Premier Explosives Ltd held a board meeting recently to discuss and approve several proposals. These included:
1) A stock split where each existing share with a face value of Rs 10 would be divided into 5 shares with a face value of Rs 2 each, subject to shareholder approval. The record date for this split will be announced later.
2) Raising up to Rs 400 crore through issuing new equity shares or other securities. This fundraising could involve public offerings, private placements, preferential allotments, or a combination of these methods. The specific details and approvals needed will be determined by SEBI regulations and may also require shareholder approval.
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Premier Explosives Limited is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Srihari Kota Centre of ISRO and the solid fuel complex at Jagdalpur under the umbrella of DRDO. The company has a market cap of over Rs 2,500 crore and as of December 31, 2023, the company’s order book stands at Rs 1,026.6 crore.
Today, shares of Premier Explosives Limited hit 20 per cent upper circuit and made a fresh new 52-week high is Rs 2,500.50 per share from its previous closing of Rs 2,083.75 with a spurt in volume by more than 2.46 times on BSE.
As of March 2024, Chirag Dilipkumar Lakhi – son of Dilipkumar Lakhi owns a 1.79 per cent stake and Atim Kabra owns a 1.78 per cent stake in the company. The stock gave multibagger returns of 504 per cent in just 1 year and a whopping 1,500 per cent in 3 years. Investors should keep an eye on this defence explosives stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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