Penny Stock Under Rs 5: Microcap Company Incorporates Subsidiary for Shipbuilding; Promoters Hold 94.98 Per cent Stake!
Nibe Ordnance & Maritime Ltd has announced the incorporation of a new subsidiary, Nibe Maritime Private Limited, on August 20, 2024. This newly established entity, in which Nibe Ordnance and Maritime Limited hold a 76 per cent stake, is set to engage in shipbuilding, ship construction, and related maritime activities, including the sale and dismantling of ships, tugs, boats, and other ocean-going vessels. An initial capital contribution of Rs 7,60,000 was made by the company. Importantly, this transaction does not fall under related party transactions.
The company’s shares are at Rs 1.44 each on the BSE. The company's current market capitalization stands at Rs 0.17 crore.
As per the Quarterly Results, in the Q1 FY25, Nibe Ordnance & Maritime Ltd recorded a revenue of Rs 0.16 crore. The operating loss stood at Rs 0.12 crore. The net loss stood at Rs 0.12 crore compared to a loss of Rs 0.08 crore.
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According to the shareholding pattern, promoters own a significant 94.98 per cent stake in the company, while public investors hold just 5.02 per cent. Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) do not have any stake in the company.
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Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.