Promoters bought 70,00,000 shares and non-promoters bought 80,00,000 shares of this penny stock at Rs 18; hit back-to-back lower circuits!

Promoters bought 70,00,000 shares and non-promoters bought 80,00,000 shares of this penny stock at Rs 18; hit back-to-back lower circuits!

Kiran Shroff
/ Categories: Trending, Penny Stocks

The shareholding pattern is where the promoters hold a maximum stake in the company (70 per cent) and the rest is owned by the general public (30 per cent).

Sera Investments & Finance India Limited informed that the Board of Directors of the company considered and approved the allotment of 1,50,00,000 equity shares of the company at Rs 13.50 including a premium of Rs 11.50 per share to the allottees upon conversion of 1,50,00,000 warrants as earlier issued and allotted on preferential basis to the promoters and non-promoter groups. The promoters were allocated 70,00,000 shares and non-promoters were allocated 80,00,000 shares.

After nearly rising 75 per cent in 6 months, the shares of Sera Investments & Finance India Ltd are undergoing correction, hitting the lower circuit for the fifth straight day. Today, shares of Sera Investments & Finance India Ltd plunged 2 per cent to Rs 17.90 per share from its previous closing of Rs 18.26 per share. The stock is close to its 52-week high of Rs 90.65 per share and has a 52-week low of Rs 10.11.  

Sera Investments & Finance India Ltd, founded in 1985 by a team specializing in metals, has transformed from Kapashi Commercial Limited to an investment company engaged in stock market trading, loan and lease services, and ferrous and non-ferrous metal trading. The shares of the company have ex-traded bonus shares and stock split in the ratio of 3:2 and 5:1 respectively with ex-dates as May 14, 2019 and April 28, 2023, respectively.

This NBFC company has a market cap of Rs 89.50 crore. The shareholding pattern is where the promoters hold a maximum stake in the company (70 per cent) and the rest is owned by the general public (30 per cent). According to the Quarterly Results, the net sales increased by per cent to Rs 9.13 crore and net profit increased by per cent to Rs 7.41 crore in Q3FY24 over Q2FY24.

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

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