Rights Issue Announced For 3rd Consecutive Year: Penny Stock Under Rs 5 In Green As Board Announces 14:30 Rights Issue For An Amount Aggregating To Rs 4,995.13 Lakh
The stock is up by 45.15 per cent from its 52-week low of Rs 2.06 per share.
Today, shares of Advik Capital Ltd gained 5.65 per cent to Rs 2.99 per share from its previous closing of Rs 2.83. The stock’s 52-week high is Rs 4.35 and its 52-week low is Rs 2.06.
Advik Capital Ltd informed that the Board of Directors has inter alia considered and approved the following terms of the Rights Issue:
Instrument: Fully paid-up equity shares having a face value of Rs 1 each (Rights Shares).
A total number of rights equity shares and rights issue size: Up to 19,98,05,013 equity shares of the company each on a Fully-paid basis for an amount aggregating to Rs 4,995.13 lakh (Assuming full subscription, subject to finalisation of the basis of allotment).
Issue Price: Rs 2.50 per rights equity share [including a premium of Rs 1.50 per equity share].
Record date: Thursday, September 12, 2024.
Rights Entitlement Ratio: 14:30, i.e., 14 rights equity shares for every 30 fully paid-up equity shares of the company held by the eligible equity shareholders of the company, as on the record date.
Outstanding Equity Shares: Before the Issue is 42,81,53,600 equity shares and post right issue is 62,79,58,613 equity shares (Assuming full subscription).
Rights Issue Period: Rights Issue opening date - Tuesday, September 24, 2024 and Rights Issue closing date - Friday, October 04, 2024
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About the Company
Advik Capital, a Non-Banking Financial Company (NBFC) with a total assets of Rs 200 crore, is aiming to achieve the status of a Systematically Important Non-Banking Financial Company (SIB-NBFC) by 2025. To achieve this, the company is executing a comprehensive expansion strategy that includes enlarging its business offerings, exploring new-age sectors like healthcare, and strategically evaluating existing lines to improve overall performance. The company is also infusing additional resources to strengthen its operations and attract industry veterans with expertise in risk, operations, governance and technology.
According to Quarterly Results, the net sales increased by 49.2 per cent to Rs 227.90 crore, operating profit increased by 89.2 per cent to Rs 4.75 crore and net profit increased by 235.7 per cent to Rs 2.35 crore in Q1FY25 over Q1FY24. In its annual results (FY24), the company reported net sales of Rs 840 crore and net profit of Rs 6 crore.
The company has a market cap of over Rs 120 crore and has delivered good profit growth of 121 per cent CAGR over the last 5 years. According to the shareholding pattern, the promoters of the company own 21.80 per cent and the public owns a 78.20 per cent stake in the company as of June 2024. The stock is up by 45.15 per cent from its 52-week low of Rs 2.06 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.