Multibagger penny stock under Rs 20; Board likely to announce rights issue!
The stock gave multibagger returns of 325 per cent in 2 years and over 550 per cent in 3 years.
Orient Green Power Company Ltd informed that the meeting of the Rights Issue Committee of the Board of Directors is scheduled to be held on Thursday, August 10, 2023, to discuss the following agenda, including but not limited to:
1. To consider and approve the terms of the proposed rights issue, including but not limited to, the number of rights equity shares (Equity Shares) to be issued, issue price of the equity shares, rights entitlement ratio, fixing of record date for the proposed rights issue, finalization of the issue schedule, and any other matters incidental and connected thereto.
2. To consider, take on record and adopt the letter of offer along with the abridged letter of offer, rights entitlement letter and application form.
Orient Green Power Company Limited is an independent producer of renewable power. It is engaged in developing, owning, and operating a diversified portfolio of wind energy power plants. The company has a market cap of over Rs 1,000 crore with a 3-year stock price CAGR of 86 per cent.
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On Monday, shares of Orient Green Power Company Ltd plunged 7.49 per cent to Rs 14.09 per share with an intraday high of Rs 15.33 and an intraday low of Rs 13.81. The stock’s 52-week high of Rs 16.70 and its 52-week low is Rs 7.70.
The stock gave multibagger returns of 325 per cent in 2 years and over 550 per cent in 3 years. Investors should keep an eye on this Small-Cap power generation company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.