Multibagger penny stock below Rs 20: Ashish Kacholia has been allocated 1,80,00,000 warrants; Is he sensing a turnaround in the stock?
The company's shares have demonstrated robust performance, yielding impressive multibagger returns of 140 per cent.
In a groundbreaking board meeting on November 16, 2023, Jyoti Structures Ltd (JSL) unveiled a formidable financial strategy, adhering to SEBI regulations and superseding earlier meetings to fortify the company's position. The board announced a pivotal move: an enabling resolution to raise funds up to Rs 400 crores through various instruments, emphasizing their commitment to financial resilience and expansion, pending necessary approvals.
Ashish Kacholia, a well-known figure in India's financial circles, is set to receive 1,80,00,000 convertible warrants, aligning his interests closely with JSL's future success. Notably, Sanjeev Aggarwal will be allotted 7,50,000 warrants, reflecting a collective belief in the company's prospects.
These convertible warrants, eligible for conversion within 18 months, symbolize a forward-looking financial strategy, potentially converting into one equity share of face value Rs 2 each, with a premium of Rs 11.20 per warrant.
The board has also greenlit a preferential issue of equity shares, with Kacholia set to receive 44,00,000 shares, solidifying his financial partnership with JSL. Other prominent investors include Ruchi Gupta, RSP Ventures, Bengal Finance & Investment Pvt. Ltd., and Gajanand Agrawal, each contributing to JSL's strategic financial landscape.
As these renowned investors join forces, the financial markets are abuzz with anticipation, eagerly awaiting the unfolding of this strategic chapter in JSL's journey. With a keen eye for promising ventures, their presence as non-promoters in Jyoti Structures Limited adds weight to the company's growth trajectory.
Additionally, over the last six months, the company's shares have demonstrated robust performance, yielding impressive multibagger returns of 140 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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