Heavy buying in this DIIs-backed multibagger penny stock under Rs 25; Board approved the allotment of 15,38,46,153 equity shares on a rights basis!
The stock is up by 75 per cent from its 52-week low of Rs 11.88 per share and gave multibagger returns of over 330 per cent in 3 years.
On Thursday, shares of SEPC Ltd gained 2.14 per cent to Rs 19.57 per share from its previous closing of Rs 19.16. The stock’s 52-week high is Rs 26.73 and its 52-week low is Rs 8.83. The shares of the company saw a spurt in volume by more than 1.70 times on BSE.
SEPC Ltd. is following up on previous announcements regarding a rights issue of new equity shares. The company confirms that the Rights Issue Committee, acting in accordance with the Letter of Offer dated June 27, 2024, and allotment guidelines set with the issuing registrar and the stock exchange, has approved the allotment of 15,38,46,153 new shares at a face value of Rs 10 each. These shares will be issued to eligible applicants at a price of Rs 13 per share, which includes a premium of Rs 3 per share.
Earlier, SEPC Ltd strategically entered the United Arab Emirates (UAE) market by acquiring a 75% stake in ALMOAYYED Electrical Equipment & Instrumentation Systems LLC (AEEIS), a Bahrain-based firm established in 2004 with expertise in electrical equipment, control systems, and a presence in both the UAE and Bahrain. This acquisition, funded entirely by SEPC's promoter Mark AB Capital Investment LLC for AED 1 million, aims to position SEPC for participation in UAE government projects, particularly those involving Oil & Gas giant ADNOC. AEEIS's proven track record, with a total revenue of USD 1,00,55,193 and a profit of USD 19,36,394.47 for the year ending December 2023, is expected to not only provide SEPC with a UAE foothold but also offer access to AEEIS's client base and Oil & Gas sector experience. Furthermore, SEPC plans to rename the acquired entity to SEPC Middle East Engineering & Construction LLC, potentially strengthening its position in securing projects across the Gulf Cooperation Council (GCC) countries.
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Shriram EPC Ltd (SPEC) is a leading service provider of integrated design, engineering, procurement, construction, and project management services for water and waste-water treatment plants, water infrastructure, process and metallurgy plants, power plants, and mines and mineral processing. Domestic Institutional Investors (DIIs) own a 25.16 per cent stake in the company and the majority of DIIs are Punjab National Bank (PNB), Central Bank of India, The South Indian Bank, Axis Bank, Bank of India (BOI), IndusInd Bank, Union Bank of India (UBOI), Bank of Baroda (BOB) and The Federal Bank Ltd.
SPEC has a market cap of Rs 3,200 crore. The stock is up by 75 per cent from its 52-week low of Rs 11.88 per share and gave multibagger returns of over 330 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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