Stock under Rs 100: This Infrastructure Services Company Announced Rights Issue of Worth Rs 3,992.43 Lakhs with Ratio of 1:5 - Details inside!
The stock price has logged a 38.97 per cent increase in the last one year.
On Wednesday, shares of AB Infrabuild Ltd jumped by 4.59 to trade at Rs 83. Trading volumes stood at 3,30,322 shares, indicating investor interest following the company's latest corporate announcement.
AB Infrabuild Limited has announced a rights issue of fully paid-up equity shares amounting to Rs 3,992.43 lakhs. The company’s Board of Directors initially approved this issue in a meeting on November 25, 2024. As per the latest disclosure, the record date for determining eligible shareholders for the rights issue has been set for March 10, 2025.
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The rights issue is being offered at a price of Rs 37.50 per equity share, with a ratio of 1:5, meaning shareholders will be entitled to receive one new equity share for every five shares they currently hold. The issue will open for subscription on April 07, 2025, and will close on April 25, 2025, with the last date for market renunciations set for April 15, 2025.
About Company
A B Infrabuild Ltd. engages in the provision of infrastructure services. The company was founded by Amit Bholananth Mishra in 1999 and is headquartered in Mumbai, India.
Company is a grade "AA" contractor registered with Municipal Corporation of Greater Mumbai and Class 1(A) Contractor with Public Works Department, Maharashtra. It has an OHSAS 18001:2007, ISO 14001:2015 & ISO 9001:2015 accreditation along with certification from KVQA for compliance of ISO & OHSAS certification. The company is in the civil construction business.
With a market capitalisation of Rs 442 crore. The company has ROCE of 22.3 per cent and ROE of 20 per cent. The stock price has logged a 38.97 per cent increase in the last one year.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.