Multibagger returns from its 52-week low; Board likely to announce bonus shares & fundraising through various means!

The stock gave multibagger returns of 284.7 per cent from its 52-week low of Rs 54 per share.

Naapbooks Ltd informed that a meeting of the Board of Directors of the company will be held on Thursday, March 07, 2024, inter-alia, to consider and discuss, subject to the approval of the shareholders:

• To explore opportunities of fundraising through various means of issuance of shares/share warrants on a preferential basis or through rights issue or debt instrument, in one or more tranches, for an amount not exceeding Rs 25 crore.
• To consider and evaluate the proposal for the issue of bonus shares, subject to the approval of the members and any other requisite approvals.
• To consider and evaluate the proposal for the formulation of the “Naapbooks Limited- Employee Stock Option Scheme (“ESOS”) 2024” of the company, following SEBI Regulations, 2021 subject to the approval of the shareholders of the company in the general meeting.
• To consider and explore opportunities to acquire the business of or merge with IT companies.
• To consider and discuss an increase in the authorized share capital of the company.
• Any other agenda with permission of the chair.

Naapbooks Ltd (NBL) is a software company specializing in creating innovative solutions for various industries, from FinTech apps and cloud consulting to mobile and web app development. They leverage cutting-edge technology to help businesses in sectors like energy, finance, and IT digitize their operations and improve efficiency. Their diverse product portfolio includes visitor management systems, communication tools, and e-voting solutions, catering to a range of clients like Simpolo and Sumitek.

The stock last traded on Friday, March 01, 2024, shares of Naapbooks Ltd surged and reached an upper price band of Rs 207.75 per share, after being locked in the 5 per cent upper circuit from its previous closing of Rs 1997.90. The stock also made a fresh 52-week high of Rs 207.75 while its 52-week low of Rs 54.

Talking about the financials, Naapbooks Ltd has a market cap of Rs 62.46 crore. The company reported excellent results in its half-yearly and annual financial statements. The stock gave multibagger returns of 284.7 per cent from its 52-week low of Rs 54 per share.

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