Multibagger stock under Rs 25: The shares of the micro-cap company were locked in upper circuit following the extension of the rights issue!
The stock gave multibagger returns of 170 per cent in 3 years whereas BSE Sensex Index is up by 80 per cent.
On Tuesday, one of the Top Gainers on BSE, shares of Vintage Coffee and Beverages Ltd was locked in 5 per cent upper circuit to Rs 21.22 per share from its previous closing of Rs 20.21. The company has a 52-week high of Rs 86.82 and a 52-week low of Rs 16.77.
Earlier, the company's announcement of a rights issue in the ratio 1:2 for its equity shareholders as of the record date caused a sudden surge in the stock price. The company verified the record date for the rights issue as Monday, June 19, 2023. The rights issue price is Rs 12 per rights equity share with the issue opening date as Monday, July 03, 2023 and the issue closing date as Monday, July 10, 2023.
Further, the company informed the eligible shareholders of the company that the date of closure of the Rights Issue, which was earlier extended from Monday, July 10, 2023 to Tuesday, July 11, 2023 has now been further extended to Wednesday, July 12, 2023 by the rights issue committee in its meeting held on July 10, 2023 to provide further opportunity to shareholders to exercise their rights in the Rights Issue.
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Vintage Coffee is into the manufacturing of Instant Coffee. They are primarily supplying to domestic markets and majorly exporting to various countries. According to the financials, the company has a market cap of Rs 222.18 crore.
The company reported excellent numbers in its Quarterly Results and annual results. The net sales increased by 14.87 per cent to Rs 18.62 crore in Q4FY23 over Q4FY22. The net sales increased by 71.88 per cent to Rs 62.89 crore in FY23 over FY22. The company reported a net profit of Rs 3.86 crore in FY23 compared to a net loss of Rs 12.27 crore in FY22.
The stock gave multibagger returns of 170 per cent in 3 years whereas BSE Sensex Index is up by 80 per cent. Investors should keep an eye on this micro-cap stock under the radar.
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