Promoters bought 30,00,000 shares & FIIs bought 16,00,000 shares of this multibagger stock via preferential issue; gains over 100 per cent from its 52-week low!

The shares of the company have an ROE of 74.5 per cent and an ROCE of 86.8 per cent.

Today, shares of Quicktouch Technologies Limited gained 0.94 per cent to Rs 214 per share with an intraday high of Rs 218.95 and an intraday low of Rs 214. The stock’s 52-week high is Rs 274 and its 52-week low is Rs 110.60.

Incorporated in 2013, Quicktouch Technologies Limited is an information technology company. The company is in the business of software IT solutions and consulting services, IT product/software development & software commercial training and web designing.

The Board of Directors of the company in their meeting held on Tuesday, January 30, 2024 have approved and allocated a total of 59,50,000 fully convertible warrants carrying a right exercisable by the warrant holder to subscribe to one equity share per warrant, to persons belonging to Promoter and Non-Promoter/Public Category on preferential basis at an issue price of Rs 196.17 per warrant.

In the allotment, Promoters of the company i.e., Ram Gopal Jindal, Madhu and Gaurav Jindal were collectively allocated 30,00,000 warrants; Foreign Institutional Investors i.e., Forbes EMF and Minerva Ventures Fund were allocated 16,00,000 warrants and the rest of the 13,50,000 warrants were allocated to the public shareholders i.e., Aryadeep Tie Up Private Limited, Kiwi Dealcom Private Limited and Ayodhya Vincom Private Limited.

This is a significant development for Quicktouch Technologies, which has been growing rapidly in recent years. The company's flagship product, QuickCampus, is an online education platform that is used by over 3,700 schools in India. The company is also expanding its presence in other sectors, such as payments, FinTech, and InsurTech. The issuance of preferential warrants will provide Quicktouch Technologies with the necessary capital to fuel its growth and expand its reach in the Indian market.

The company has a market cap of Rs 124 crore and reported positive numbers in its half-yearly and annual results. The shares of the company have an ROE of 74.5 per cent and an ROCE of 86.8 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 110.60 per share.

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