Multibagger penny stock hit fresh 52-week high after the company allotted 2,00,001 convertible warrants to Goshar Infra Projects Pvt Ltd and Chhatisgarh Investments Ltd!

The stock gave multibagger returns of over 150 per cent in just 1 year.

One Point One Solutions Ltd is a company that helps other companies work more efficiently by providing a variety of services, such as customer care, finance, sales, marketing, and IT. The clients of the company include Baroda AMC, Jaquar, Edelweiss Tokio Life Insurance, Tata SME etc.

The company previously issued 3.44 crore convertible warrants, convertible into Rs 2 shares at Rs 28.32 each. This notice pertains to the conversion of a small portion of these warrants. On December 30, 2023, the board approved the conversion of 2,00,001 warrants into equity shares upon receiving Rs 42,48,021.24 from the warrant holders. This represents 75 per cent of the remaining issue price after the initial 25 per cent payment.

Goshar Infra Projects Pvt Ltd was allotted 2,00,000 warrants and Chhatisgarh Investments Ltd was allotted 1 warrant. The amount received is 75 per cent of the issue price per warrant aggregating to Rs 42,48,021.24.

Following this conversion, 1.84 crore warrants remain un-converted. Holders can still convert these at Rs. 21.24 per warrant within 18 months of their initial allotment. The company's paid-up capital has increased slightly due to the new shares issued with their conversion. These new shares have equal rights to the existing shares.

Today, shares of One Point One Solutions Ltd gained 4.68 per cent and traded at an intraday high & fresh 52-week high of Rs 58.20 per share from its previous closing of Rs 55.60 per share.

The company's fiscal year 2024 Quarterly Results and half-yearly results were impressive, with significant growth in all key financial metrics.  

The company's financial performance for the second quarter of fiscal year 2024 was outstanding. Total income increased by 17.45 per cent to Rs 41.01 crore, EBITDA increased by 71.49 per cent to Rs 14.83 crore, EBITDA margin increased from 24.77 per cent to 36.17 per cent, net profit increased by 210 per cent to Rs 5.93 crore, and EPS increased by 200 per cent to Rs 0.30 per share.

For the first half of the fiscal year, total income increased by 13.97 per cent to Rs 79.75 crore, EBITDA increased by 51.31 per cent to Rs 26.15 crore, EBITDA margin increased from 24.69 per cent to 32.79 per cent, net profit increased by 2.37 times to Rs 8.75 crore, and EPS increased by 125 per cent to Rs 0.45 per share.

The stock gave multibagger returns of over 150 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.

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