Promoters allotted 30,00,000 shares & non-promoters allotted 1,79,52,000 shares: Penny stock under Rs 10 hit upper circuit

The company has a market cap of Rs 31.08 crore and stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 2.40 per share.

Shashijit Infraprojects Limited's Board of Directors, following an in-principle approval from BSE Limited on February 2025, authorized the preferential allotment of 20,952,000 equity shares at Rs. 3.27 each, including a premium of Rs. 1.27, on March 3rd, 2025. This private placement increased the company's paid-up equity share capital from Rs. 103,440,000 (51,720,000 shares) to Rs. 145,344,000 (72,672,000 shares). Specifically, 3,000,000 shares were allocated to promoters and 17,952,000 shares to non-promoters.

Shashijit Infraprojects Limited is a construction company specializing in industrial, commercial, residential, and institutional buildings in Gujarat, Dadra and Nagar Haveli, and Daman and Diu. Their comprehensive services include general contracting, design-build, development, EPC, and PMC across various industry sectors like engineering, textiles, chemicals, pharmaceuticals, paper, healthcare, hospitality, education, and residential. With a proven track record, Shashijit Infraprojects Limited has completed over 100 industrial building projects.

On Monday, shares of Shashijit Infraprojects Ltd surged 2 per cent to Rs 6.01 per share with an intraday high of Rs 6.01 and an intraday low of Rs 6.01 from its previous closing of Rs 5.90 per share. The company's shares saw a spurt in volume by more than 2.5 times on BSE. The stock’s 52-week high is Rs 8.40 per share and its 52-week low is Rs 2.40. The company has a market cap of Rs 31.08 crore and the stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 2.40 per share. Investors should keep an eye on this micro-cap stock.

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