Debt-Free Penny Stock Under Rs 5: This Micro-Cap Company Buys Suresh Raina-Led, Hyderabad Franchise in Legends League Cricket
The stock’s 52-week high is Rs 8.94 while its 52-week low of Rs 3.15.
Toyam Sports Limited buys out the Suresh Raina-led, Hyderabad franchise in the Legends League Cricket. Formerly known as the Urbanrisers Hyderabad, the franchise previously owned by Urbanrise group will now be known as Ultimate Toyam Hyderabad and will be seen in action in the upcoming season of the Legends League Cricket starting on the 20th of September. Toyam Sports Limited is a publicly listed company engaged in various sports production, promotion and management.
In recent years, Toyam Sports Limited has organized major events like 'Kumite 1 League,' an international MMA fight night with Mike Tyson as its brand ambassador, and 'Kumite 1 Warrior Hunt'—India's first sports reality web series—along with several T10 and T20 leagues worldwide. Additionally, TSL owned a team in the World Tennis League and has title-sponsored the India vs Bangladesh ODI series, among other initiatives. Toyam Sports Limited's commitment to strengthening the sports ecosystem is further reflected in its expansion into providing high-quality, affordable sports accessories.
In addition to Toyam Sports Limited owning the franchise 'Ultimate Toyam Hyderabad', the franchise owners for this season's Legends League Cricket are as follows: India Capitals – GMR group, Southern Super Stars – Multi corporate consortium led by Qentelli, Manipal Tigers – Manipal Group, Konark Suryas Odisha – Assoctech group, and Gujarat Greats – Gujarat based consortium of companies.
In a similar kind of deal in IPL in 2018 JSW Sports bought a 50 per cent stake in Delhi Daredevils. The deal valued the Daredevils at Rs 1,100 crore (USD 169 million), double the USD 84 million the team were originally purchased for in 2008, GMR Sports recouped its initial investment while retaining half of its stake, receiving Rs 550 crore (USD 84.5 million) in the first of its kind sale.
Mohamedali R. Budhwani, Chairman & Managing Director of Toyam Sports Limited said, "Toyam Sports Limited has a distinguished legacy of promoting sports globally, and 'Ultimate Toyam Hyderabad' will be another proud achievement in TSL's journey. We are excited to be part of the upcoming Legends League Cricket season, marking a significant moment as we embrace Hyderabad's rich cricketing heritage. Our mission is to honour the franchise's legacy while inspiring future generations of sports fans across the state and the nation.”
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On Friday, shares of Toyam Sports Ltd plunged 3.59 per cent to Rs 3.49 per share from its previous closing of Rs 3.62 per share with an intraday high of Rs 3.70 and an intraday low of Rs 3.45. The stock’s 52-week high is Rs 8.94 while its 52-week low of Rs 3.15.
About Toyam Sports Ltd (TSL)
Toyam Sports Limited (TSL) is a pioneering sports company listed on the BSE & MSEI. Committed to the development and promotion of sports, TSL has a diverse portfolio that includes cricket, tennis and Mixed Martial Arts (MMA). TSL continues to push the boundaries of sports entertainment and management globally.
The company’s only 0.21 per cent stake is owned by FIIs and the remaining 99.79 per cent stake is owned by the public as of June 2024. The company has a market cap of Rs 199.91 crore and as of June 2024, it is debt-free. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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