FIIs bought 8,90,00,000 shares of this multibagger penny stock at Rs 15 with 2,700 per cent returns via preferential issue; hit upper circuit & 52-week on February 27
The stock gave multibagger returns of 400 per cent in just 1 year and of a whopping 2,700 per cent in 3 years.
Today, one of the Top Gainers on BSE, shares of Sarveshwar Foods Ltd (SFL) hit a 5 per cent upper circuit to Rs 15 per share from its previous closing of Rs 14.28. The stock also made a fresh new 52-week high of Rs 15 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs (consecutive 10 upper circuits).
The company plans to raise Rs 9,894 lakhs for long-term growth by issuing 10,20,00,000 warrants at Rs 9.70 per warrant to non-promoter investors. These warrants are convertible into equity shares with a face value of Rs 1 each, subject to shareholder and regulatory approvals.
The company intends to raise an additional Rs 100 crore through various methods, including a Qualified Institutional Placement (QIP), American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), or other legal methods or combinations thereof. This fundraising could involve multiple tranches, each with a maximum size of Rs 50 crore, and the specific terms (determined later by the board) will comply with relevant regulations, including the Companies Act, 2013, SEBI regulations, and other updated guidelines.
In the allotment FIIs where Eminence Global Fund PCC - Eubilia Capital Partners Fund I - 4,75,00,000; Radiant Global Fund-Class B Participating Shares - 2,55,00,000; and Nova Global Opportunities Fund PCC-Touchstone - 1,60,00,000.
Sarveshwar Foods Limited (SFL) is a highly certified company with credentials including ISO 22000:2018, USFDA, BRC, Kosher, NPPO USA & CHINA, and NOP-USDA Organic. Specializing in both basmati and non-basmati rice manufacturing, processing, trading, and marketing, SFL operates from the Jammu Region of Jammu and Kashmir and serves both domestic and international markets.
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Sarveshwar Foods Limited (SFL) boasts a rich history of over 130 years, cultivating and providing healthy, delicious rice nurtured by the Himalayas' fertile lands. Going beyond rice, they've expanded into other premium FMCG and organic categories in recent decades. Their commitment to sustainability extends to their "NIMBARK" range, encompassing fully organic products grown without artificial fertilizers or chemicals, reflecting their "SATVIK" philosophy. This dedication to quality and social responsibility has recently been recognized by India's "Bharat" brand, choosing SFL for the distribution of subsidized rice in Jammu & Kashmir. This partnership not only improves food accessibility for citizens but also leverages SFL's extensive experience to combat food inflation and empower communities, demonstrating the potential of its multi-channel approach to enhance food security across India.
The company has a market cap of Rs 1,467.25 crore with a 3-year CAGR of 205 per cent. According to Quarterly Results, the net sales increased by 24.7 per cent to Rs 229.38 crore and net profit increased by 186.6 per cent to Rs 4.93s crore in Q3FY24 compared to Q3FY23. In its annual results, the net sales increased by 14 per cent to Rs 689 crore and net profit increased by 166.7 per cent to Rs 8 crore in FY23 compared to FY22. The stock gave multibagger returns of 400 per cent in just 1 year and of a whopping 2,700 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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