Multibagger penny stock under Rs 5 in green as company entered into a term sheet with Diponed Research International Pvt Ltd

The stock gave multibagger returns of 171.6 per cent from its 52-week low of Rs 1.55 per share.

Evexia Lifecare Limited has entered into a Term Sheet with DIPOned Research International Private Limited (Diponed) to acquire a 65 per cen stake in the company. Evexia will invest in Diponed through a preferential share issue and as quasi-capital. This acquisition aligns with Evexia's strategy of expanding its pharmaceutical business through organic growth and strategic acquisitions. Diponed, a relatively young company focused on drug discovery, development, formulations, and contract research services, offers a potential avenue for Evexia to diversify its operations and tap into emerging markets. The deal is expected to be completed within 60 days, subject to certain conditions precedent.

Earlier, Evexia Lifecare expanded into the UAE healthcare market by acquiring a 51 per cent stake in a newly formed SPV comprising 10 UAE-based medical centers. This investment of Rs 190 crore allowed Evexia to tap into a growing market and offer a wider range of services. Additionally, Evexia announced plans to acquire a 51 per cent stake in Vittal's MediCare, a diagnostic center in India, to align with its existing business and explore synergies.

On Friday, shares of Evexia Lifecare surged 0.96 per cent to Rs 4.21 per share from its previous closing of Rs 4.17 with an intraday high of Rs 4.23 and an intraday low of Rs 4.09 on BSE. The stock gave multibagger returns of 171.6 per cent from its 52-week low of Rs 1.55 per share.

Evexia Lifecare Limited formerly known as Kavit Industries Limited is engaged in the trading of chemicals, agricultural produce and various other products of consumer goods. The company has also formed a new subsidiary firm to set up pathology labs in Africa.

According to the financials, this FMCG company has a market cap of Rs 790 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). Investors should keep an eye on this micro-cap stock under the radar.

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