Penny stock under Rs 2 hit upper circuit: This micro-cap investment company is likely to raise funds worth Rs 50,00,00,000!

The stock gave over 30 per cent returns from its 52-week low of Rs 0.95 per share.

Srestha Finvest Ltd informed that the board meeting is scheduled to be held on December 19, 2023, to consider inter-alia the following business:

1. To consider and approve fundraising, for an aggregate amount not exceeding Rs 50,00,00,000, in one or more tranches, in compliance with the applicable provisions of law.

2. Any other business with the permission of the chair.

Today, one of the Top Gainers on BSE, shares of Srestha Finvest Ltd were locked in a 10 per cent upper circuit to Rs 1.25 per share from its previous closing of Rs 1.14. The shares of the company saw a spurt in volume by more than 1.04 times on BSE. The stock’s 52-week high is Rs 1.47 per share and its 52-week low is Rs 0.95.  

Established in 1985, Srestha Finvest Ltd. is a multifaceted financial services company that offers a range of solutions, including loans, financing, and investments. They hold a specific regulatory license: a Category B Non-Systematically Important Non-Deposit Taking NBFC - Investment and Credit Company. This allows them to provide loans secured by various assets (securities, movable and immovable properties), offer hire purchase and leasing options, and engage in trading and investing in shares.

In essence, Srestha Finvest caters to diverse financial needs with its diverse portfolio of services. The company’s 100 per cent stake is owned by the public. The stock gave over 30 per cent returns from its 52-week low of Rs 0.95 per share.

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