Multibagger from its 52-week low: This IT-software company to raise Rs 215,78,70,000 via preferential issue of warrants to expand its reach in the Indian market!

The shares of the company have an ROE of 74.5 per cent and an ROCE of 86.8 per cent.

Quicktouch Technologies Limited (NSE Emerge: QUICKTOUCH-SM), a leading software development company based out of New Delhi and Bengaluru, has announced its plans to issue preferential warrants to raise to Rs 215,78,70,000. The company's Board of Directors approved the proposed issue at its meeting held on Thursday, November 16, 2023.

Under the proposed issue, Quicktouch will offer up to 1,10,00,000 (One Crore and Ten Lakhs) warrants, each convertible into one fully paid equity shares of the company. The warrants will be issued for Rs 196.17 per warrant, payable in cash. The company expects to raise Rs 215,78,70,000 from the issuance of these warrants.

The preferential issue is intended to expand the company's equity base and provide it with additional capital for its growth initiatives. The warrants will be issued to the company's promoters, promoter group entities, and certain identified non-promoter individuals and entities. The proposed issue is subject to the approval of the company's shareholders and other regulatory authorities. The company expects to complete the issue within the next 18 months.

This is a significant development for Quicktouch Technologies, which has been growing rapidly in recent years. The company's flagship product, QuickCampus, is an online education platform that is used by over 3,700 schools in India. The company is also expanding its presence in other sectors, such as payments, FinTech, and InsurTech.

The issuance of preferential warrants will provide Quicktouch Technologies with the necessary capital to fuel its growth and expand its reach in the Indian market. The company is well-positioned to capitalize on the growing demand for software solutions in India and is expected to continue to grow in the coming years.

Today, one of the Top Gainers on BSE, shares of Quicktouch Technologies Ltd hit a 5 per cent upper circuit to Rs 205.90 per share from its previous closing of Rs 196.1 per share. The stock’s 52-week high is Rs 274 and its 52-week low is Rs 110.60.

The company has a market cap of Rs 119 crore and reported positive numbers in its half-yearly and annual results. The shares of the company have an ROE of 74.5 per cent and an ROCE of 86.8 per cent. The stock gave multibagger returns of 114 per cent in just 1 year.

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