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3,350 per cent multibagger returns: This electric vehicle (EV) loan provider company to raise funds upto Rs 24,84,00,000
Kiran Shroff
/ Categories: Trending, Multibaggers

3,350 per cent multibagger returns: This electric vehicle (EV) loan provider company to raise funds upto Rs 24,84,00,000

From Rs 3.93 per share to Rs 137.50 per share, the stock gave multibagger returns of over 3,350 per cent in just 3 years.

Today, shares of Mufin Green Finance Ltd plunged 1.93 per cent to Rs 137.50 per share from its previous closing of Rs 140.20. The stock’s 52-week high of Rs 273.10 while its 52-week low is Rs 35 per share. The stock gave multibagger returns of 2\40 per cent in just 1 year whereas BSE Small-Cap Index is up by 66 per cent.

The company's Board of Directors has approved raising funds up to Rs 24,84,00,000 by issuing non-convertible debentures. These debentures will be denominated in Indian Rupees, rated by a credit rating agency, secured by the company's assets, senior to other unsecured debt, redeemable before maturity, taxable for the investor, and transferable to other investors. The company will be issuing these debentures through a private placement, which means they will be sold directly to institutional investors rather than being offered to the public on a stock exchange. Issuing these debentures is subject to approval by relevant regulatory authorities.

Mufin Green Finance is a company that provides financial solutions to underserved communities in India. They focus on climate financing solutions, such as loans for electric vehicles. Their mission is to create financial opportunities and a more sustainable planet. Mufin Green Finance, an investment firm offering advisory, asset management, and financial planning services, boasts a market cap of over Rs 2,000 crore and an impressive 243 per cent CAGR profit growth over 3 years.

Also Read: Role of artificial intelligence (AI) in stock market analysis

The company's performance in the first nine months of fiscal year 2024 (9MFY24) has been significantly stronger than its performance in the entirety of fiscal year 2023 (FY23). Net sales have grown by Rs 30.67 crore, representing an increase of nearly 87 per cent (from Rs 35.16 crore to Rs 65.83 crore). Net profit has also seen a substantial rise of Rs 3.88 crore, reflecting a growth of almost 48 per cent (from Rs 8.12 crore to Rs 12 crore). These figures point towards a positive trend for the company in the current fiscal year.

From Rs 3.93 per share to Rs 137.50 per share, the stock gave multibagger returns of over 3,350 per cent in just 3 years. In the past three years, the company has implemented three corporate actions: a final dividend of Rs 0.2 per share on September 2, 2022, a 2:1 stock split on April 13, 2023, and a 2:1 bonus share issuance on July 02, 2023. These actions have increased the number of outstanding shares and potentially impacted the company's stock price and financial ratios.

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

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1 comments on article "3,350 per cent multibagger returns: This electric vehicle (EV) loan provider company to raise funds upto Rs 24,84,00,000"

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T K ASHOK

Collecor Gadget is not a public ltd co. How to trade and why you give publicity so many occasions when this is of no use to public????

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