Multibagger Penny Stock Under Rs 5 In Green As Company Allots 8,66,20,000 Convertible Warrants to Promoter Group & Non-Promoters
The stock is up by 66.6 per cent from its 52-week low of Rs 2.93 per share and has given multibagger returns of over 1,600 per cent in 5 years.
On Wednesday, shares of Luharuka Media & Infra Ltd surged 8 per cent to Rs 4.88 per share from its previous closing of Rs 4.52 per share. The stock’s 52-week high is Rs 6.05 per share and its 52-week low is Rs 2.93 per share.
The Board of Directors of the Company, at its meeting on Wednesday, April 02, 2025, approved the allotment of 8,66,20,000 convertible share warrants at Rs 4.31 per warrant, totalling Rs 37,33,32,200, to Promoter & Promoter Group and Non-Promoter Category members on a preferential basis, following the 'In-Principal Approval' received from BSE Limited. The company has already received Rs 9,33,33,050, representing 25 per cent of the issue price (Rs 1.08 per warrant), as the warrant subscription price, with the remaining 75 per cent (Rs 3.23 per warrant) due upon conversion within 18 months. Disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015, reveal that upon conversion, 77,30,000 equity shares will be issued, with details of the 8 investors.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Luharuka Media & Infra Limited (LMIL) is a non-banking finance company (NBFC). The company is engaged in the financial sector and provides various types of loans. The company also operates in the infrastructure and media industries. LMIL has a market cap of 88 crore.
According to Quarterly Results, the net sales increased by 196 per cent to Rs 1.33 crore and net profit increased by 578 per cent to Rs 0.61 crore in Q1F25 over Q4FY24. In its annual results, the company reported net sales of Rs 1.63 crore and net profit of Rs 0.61 crore in FY24 compared to net sales of Rs 1.93 crore and net profit of Rs 0.67 crore in FY23.
The stock is up by 66.6 per cent from its 52-week low of Rs 2.93 per share and has given multibagger returns of over 1,600 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.