Multibagger penny stock hit fresh 52-week high as Board approved conversion of 17,50,000 convertible warrants into same number of equity shares on preferential basis!

From Rs 16.85 per share to Rs 69.95 per share, the stock gave multibagger returns of 315 per cent in just 1 year.

Today, one of the gainers on NSE, shares of One Point One Solutions Ltd gained 3.07 per cent and traded at an intraday high & fresh 52-week high of Rs 69.95 per share from its previous closing of Rs 67.45 per share.

One Point One Solutions Ltd. streamlines businesses through diverse services like customer care, finance, sales, marketing, and IT, empowering clients like Baroda AMC, Jaquar, Edelweiss Tokio Life, and Tata SME to maximize efficiency and results.  

The Board of Directors, via a January 19th resolution, approved converting 17,50,000 convertible warrants into the same number of equity shares for a face value of Rs 2 each, on a preferential basis. This conversion hinges on receiving Rs 3,71,70,000 (75 per cent of the warrant issue price) from warrant holders exercising their conversion rights under SEBI regulations.

Following the recent conversion of warrants, 1.67 crore warrants remain, entitling holders to convert them into an equal number of shares by paying the remaining 75 per cent (Rs. 21.24 per warrant) within 18 months. This will increase the company's paid-up capital from Rs 42.27 crore to Rs 42.62 crore, with the new shares holding equal rights as existing ones.

The company demonstrated impressive performance in both the Quarterly Results and half-yearly results for fiscal year 2024, showcasing substantial growth across all essential financial metrics.

The second-quarter financial results of the company in fiscal year 2024 were exceptional. Total income surged by 17.45 per cent to reach Rs 41.01 crore, EBITDA witnessed a remarkable increase of 71.49 per cent to Rs 14.83 crore, resulting in an EBITDA margin rise from 24.77 per cent to 36.17 per cent. Net profit soared by 210 per cent, reaching Rs 5.93 crore, and earnings per share (EPS) experienced a substantial growth of 200 per cent, reaching Rs 0.30 per share.

For the first half of the fiscal year, total income increased by 13.97 per cent to Rs 79.75 crore, EBITDA increased by 51.31 per cent to Rs 26.15 crore, EBITDA margin increased from 24.69 per cent to 32.79 per cent, net profit increased by 2.37 times to Rs 8.75 crore, and EPS increased by 125 per cent to Rs 0.45 per share.

From Rs 16.85 per share to Rs 69.95 per share, the stock gave multibagger returns of 315 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.

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