Multibagger penny stock under Rs 65 and promoters & FIIs increase their stake: Board likely to raise funds via Private Placement; Preferential Issue or QIP

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 20.35 per share.

Today, shares of One Point One Solutions Limited plunged 1.05 per cent to Rs 59.60 per share from its previous closing of Rs 60.23 with an intraday high of Rs 62.19 and an intraday low of Rs 59. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 20.35 per share.

The Board of Directors of One Point One Solutions Limited is convening a meeting on Wednesday, June 26, 2024, at 11:30 am at their corporate office. This meeting aims to address the Company's financial needs and explore potential fundraising avenues. The agenda prioritizes the evaluation of proposals for securing additional capital. These proposals encompass various instruments, including the issuance of new equity shares, convertible securities (which can be converted into shares later), share warrants (offering the right to buy shares at a specific price in the future), or debt securities (like bonds). The Board will consider different methods for issuing these instruments, such as Private Placement (selling securities directly to a select group of investors), Preferential Issue (offering new shares to existing shareholders first), Qualified Institutions Placement (selling securities to institutional investors), or a combination of these approaches. However, any chosen method will need to comply with all relevant regulations and potentially require shareholder approval. To address this potential need, the Board will also consider calling an Extraordinary General Meeting (EGM) – a special shareholder meeting – to obtain their formal consent for the chosen fundraising strategy.

Also Read: Low PE & high ROE stock under Rs 130 in green as the company from IT-Software sector acquires Grenew DMCC, Dubai – details inside!

One Point One Solutions, a full-service provider in business process outsourcing (BPO), knowledge process outsourcing (KPO), IT services, technology transformation, and analytics since 2006, offers comprehensive solutions across technology, accounting, skill development, and data analysis. In a major 2024 business expansion move, they acquired a significant stake in ITCube Solutions Pvt Ltd., a leading IT and BPM/KPO services company headquartered in both Pune, India and Cincinnati, Ohio, for Rs 84 crore. ITCube, with over two decades of experience, specializes in technology solutions like intellectual property protection, AI-driven automation, and business process optimization. They have a strong presence across the USA, England, Netherlands, Germany, the Middle East, Southeast Asia, and Australia, serving a wide range of clients in various sectors.

According to Quarterly Results, the net sales increased by 37.6 per cent to Rs 53.29 crore, EBITDA increased by 33.2 per cent to Rs 15.53 crore and net profit increased by 125.8 per cent to Rs 6.66 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 21.4 per cent to Rs 175.16 crore, EBITDA increased by 53 per cent to Rs 56.76 crore and net profit increased by 145.5 per cent to Rs 21.38 crore in FY24 compared to FY23. The EPS for FY24 stood at Rs 1.06.   

According to March 2024 shareholding, the promoters of the company bought over 5 per cent stake and increased their stake to 67.79 per cent compared to 62.67 per cent in December 2024. Additionally, BNP Paribas Financial Markets bought 9,86,663 shares at Rs 54.8 per share aggregating to Rs 5.41 crore in March 2024. BNP Paribas Financial Markets is owned by BNP Paribas Group. From Rs 3.61 per share to Rs 60.23 per share, the stock gave multibagger returns of 1,568 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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