Multibagger Penny Stock Under Rs 2 Hit Upper Circuit as Board Allocates 8,00,00,000 Shares On Conversion Of Warrants To Non-Promoters!
The stock is up by 50 per cent from its 52-week low of Re 1 per share and gave multibagger returns of 900 per cent in 5 years.
Teamo Productions HQ Limited, in compliance with SEBI regulations, announces the allotment of 8,00,00,000 equity shares at Rs 1.50 each, resulting from the conversion of 80,00,000 warrants issued to Mr. Mohaan Nadaar and Mariango Trading Private Limited post-stock split. These warrants were allotted preferentially at Rs 15 per warrant and were convertible into equity shares within 18 months. The allotment increases the company's issued and paid-up capital to Rs 109,62,19,600/-. The new equity shares will rank pari-passu with existing shares. The company has 2,22,50,000 outstanding warrants that can be converted within 18 months. The company also provides a disclosure under Regulation 30 of SEBI regulations regarding the details of the equity shares issued through warrant conversion.
Earlier, TPHQ announced an international collaboration, "Defiant," a film to be directed by renowned Australian filmmaker Bill Bennett. This marks TPHQ's inaugural project since establishing its Australian entity. With a budget of approximately Rs 300 million, "Defiant" is set to make a significant impact on the global film scene. The film will be shot in Australia and India, showcasing the unique cultural and scenic landscapes of both countries. Filming is scheduled to begin in the upcoming fiscal quarter, to complete the project by the end of 2024 for a potential Cannes Film Festival premiere in 2025. Through this ambitious endeavour, TPHQ aims to strengthen its position in the global entertainment industry and foster closer ties between the Indian and Australian film sectors, leveraging financial incentives offered by the Australian Government.
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About the Company
Teamo Productions HQ Limited, formerly known as GI Engineering Solutions Limited, has expanded its operations to include film production, distribution, and related activities, in addition to its existing businesses. The company is now involved in various film and media projects, including feature films, content production, animation, CGI, OTT platforms, television, advertising, documentaries, music and other related services, both domestically and internationally.
Today, shares of Teamo Productions HQ Ltd hit a 5 per cent upper circuit to an intraday high of Rs 1.50 per share from its previous closing of Rs 1.43. The stock’s 52-week high is Rs 1.86 and its 52-week low is Re 1. The company has a market cap of Rs 141.18 crore and working capital requirements have been reduced from 4,804 days to 30.6 days. The stock is up by 50 per cent from its 52-week low of Re 1 per share and gave multibagger returns of 900 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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