Multibagger penny stock under Rs 25; Board announces right issue – know the record date inside!
The stock gave multibagger returns of 300 per cent from its 52-week low of Rs 5.40 per share and over the span of 3 years it has returned over 500 per cent.
La Tim Metal & Industries Limited informed that the Board of Directors of the company have approved the rights issue of equity shares. Here are the details of the rights issue:
a) Instrument: Partly paid-up equity shares of face value of Rs 1 each.
b) Total number of equity shares and rights issue size: Rights Issue of 4,41,57,150 partly paid equity shares of the face value of Rs 1 each, for Rs 8.5 Per right share (Including a premium of Rs 7.50 per right share) for an Amount up to Rs 3753.36 lakh.
c) Rights issue price: Considering the amount payable on application Rs 4.25 per equity share and Rs. 4.25 per equity share on call money total aggregating issue price of Rs 8.50 per share.
d) Record date: Tuesday, January 02, 2024, designated to determine the existing equity shareholders entitled to receive the rights entitlement in the rights issue.
e) Rights Issue Period: Rights issue opening date - Wednesday, January 10, 2024 and rights issue closing date - Monday, January 29, 2024.
f) Outstanding equity shares: Before the rights issue 8,83,14,300 fully paid-up equity shares Post Rights Issue# 13,24,71,450 fully paid equity shares (#assuming full subscription after completion of the second call).
g) Rights Entitlement Ratio: In the ratio of 1 (one) right share for every 2 (two) equity shares held by such eligible equity shareholders as of the record date Tuesday, January 02, 2024.
Today, shares of La Tim Metal & Industries gained 3 per cent to Rs 21.70 per share with an intraday high of Rs 21.70 and an intraday low of Rs 20.75. The stock’s 52-week high is Rs 23.50 and its 52-week low is Rs 5.40.
La Tim Metal & Industries Ltd is engaged in the business of importing coils and profiles and trading them into the Indian market. The company have a market cap of Rs 192 crore with a 5-year CAGR of 30 per cent. The company has a good return on equity (ROE) track record 3 Years ROE of 41.5 per cent.
The stock gave multibagger returns of 300 per cent from its 52-week low of Rs 5.40 per share and over the span of 3 years it has returned over 500 per cent. Investors should keep an eye on this micro-cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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