Multibagger in just 1 year; Board announced rights issue!
The stock gave multibagger returns of 130 per cent in just 1 year and over 450 per cent in just 3 years.
Shraddha Prime Projects Ltd informed that the Board of Directors of the company has approved the rights issue of up to 1,66,25,020 equity shares with a face value of Rs 10 each of Shraddha Prime Projects Limited for cash at a price of Rs 30 per Rights Equity Share (including a securities premium of Rs 20 per Rights Equity Share) aggregating up to Rs 498.75 lakh.
On Tuesday, one of the Top Gainers on BSE, shares of Shraddha Prime Projects Ltd zoomed 5 per cent upper circuit to Rs 33.44 per share from its previous closing of Rs 31.85. The stock also traded at a new 52-week high of Rs 33.44 per share.
Shraddha Prime Projects Ltd, established in 2007, initially focused on the manufacturing and selling of Survey Instruments. However, the company has recently transitioned its core business and ventured into the real estate development and construction sector.
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The company has a market cap of Rs 70.80 crore with a 3-year CAGR of 74 per cent. Based on the shareholding pattern, the company's promoters hold a 75 per cent stake in the company, while the remaining 25 per cent is owned by the general public.
The stock gave multibagger returns of 130 per cent in just 1 year and over 450 per cent in just 3 years. Investors should keep an eye on this micro-cap stock.