Multibagger penny stock under Rs 100 to raise Rs 1,40,25,00,000 via preferential issue after bonus shares; script hit back-to-back upper circuits & 52-week highs!
The stock gave multibagger returns of 250 per cent in just 1 year, 1,400 per cent returns in 2 years and a whopping 2,800 per cent returns in 3 years.
On Friday, one of the Top Gainers on BSE, shares of Mufin Green Finance hit a 10 per cent upper circuit to Rs 83.34 per share from its previous closing of Rs 75.77. The stock also made a new 52-week high of Rs 83.34 per share.
Mufin Green Finance Ltd. informed that the Board of Directors of the company approved to issue of up to 2,55,00,000 warrants each convertible into, or exchangeable for, one equity share within the period of 18 in accordance with the applicable law (Warrants) at a price of Rs 55 each (including the warrant subscription price and the warrant exercise price) aggregating up to Rs 1,40,25,00,000 to Mr Kapil Garg, Promoter and Managing Director of the Company and Mrs Shelly Garg, Mr Saurabh Garg, Mrs Pooja Garg, Bima Pay Technology Private Limited (Promoter Group) and to certain other non-promoter group persons by way of the preferential issue. Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees.
Earlier, the Board of Directors of the company approved bonus shares in the ratio of 2:1 for the equity shareholders of the company (i.e., 2 equity shares of Rs 1 each fully paid up for every 1 equity share of Rs 1 each fully paid up held as on the record date decided for this purpose). The shares ex-traded bonus issue on Friday, July 07, 2023.
Mufin Green Finance Limited operates as an investment firm. The company offers investment advisory, asset management, capital preservation, and financial planning services. The shares of the company saw a spurt in volume by more than 1.04 times on BSE.
According to the financials, Mufin Green Finance has a market cap of Rs 1,250 crore. The company has delivered good profit growth of 141 per cent CAGR over the last 5 years. Additionally, the company have reported stellar Quarterly Results and annual results.
The stock gave multibagger returns of 250 per cent in just 1 year, 1,400 per cent returns in 2 years and a whopping 2,800 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.