An intriguing development surrounding the stock pertains to its Foreign Institutional Investors (FIIs) holding, which surged to a record high of 1.98 per cent as per the shareholding pattern for the December 2023 quarter, up from the previous figure of 0.50 per cent.

However, as the issue progressed, a cloud of uncertainty descended. Despite an overwhelming response (received subscription for 1,43,31,856 equity shares, which is 118.35 per cent of the issue size) from eager investors, the company found itself falling short of the minimum subscription threshold of 90 per cent. How could this be?

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The stock gave multibagger returns of 150 per cent in just 6 months whereas BSE Sensex Index is up by 8.5 per cent. 

The stock performs 2.5 times better than the Nifty 500 index, demonstrating strong relative strength. This implies that, in contrast to the overall market, the stock is resilient and has room to rise. When analysing the stock's performance over different time periods, it shows remarkable gains: 53.43 per cent over the last three months, 285.98 per cent over the previous year, and a multibagger return of 1376.68 per cent over the previous three years. These gains suggest that the market is still bullish and that there are good chances for future price growth.

On February 08, 2024, foreign institutional investors (FII) offloaded shares worth Rs 4,933.78 crore, while domestic institutional investors (DII) purchased shares worth Rs 5,512.32 crore.

The combined taxes paid by both companies on a trailing twelve-month basis amount to Rs 43,351 crore, representing approximately 4.16 per cent of the total corporate tax revenue figure reported in the recent budget.

At the start of the year, the company has found itself at the center of attention as 25 entities, including notable names like Sheth Developers and Sunteck Realty, have expressed keen interest in acquiring the beleaguered company, which has been mired in bankruptcy proceedings.

Our country is still the fastest-growing major economy in the world, and there is a world of opportunities available for fintechs to continue their growth and scale even faster, affirms Vishwas Patel, Joint Managing Director, Infibeam Avenues Ltd.