100 per cent publicly owned company: Multibagger penny stock at Rs 35.80 with 5,400 per cent returns; Board announces 1:15 rights issue!

From Rs 0.65 (52-week low) to Rs 35..80 per share, the stock gave multibagger returns of 5,400 per cent.

The Board of Directors of Spright Agro Ltd, in their meeting held and have inter alia considered and approved the following terms of the Right Issue:

1. The total number of equity shares and rights issue size: 3,34,84,611 fully paid-up equity shares of Re 1 each at an issue price of Rs 13.40 per equity share aggregating to Rs 44,86,93,788.
2. Right issue price: Rs 13.40 per fully paid-up equity shares (including a premium of Rs 12.40 per equity share).
3. Right entitlement ratio: 1 new right share for every 15 existing equity shares held by the eligible shareholders as on the record date as mentioned below.
4. Record date: Fixed the record date on Friday, June 07, 2024, to determine the eligible shareholder to apply for the right issue.
5. Right issue period: Issue opening date: Monday, June 24, 2024 and Issue closing date: Friday, July 12, 2024.
6. Terms of Payment: The issue price of Rs 13.40 per equity share shall be payable at the time of application.
7. Outstanding of Equity Shares: Before the right issue is 50,22,69,160 equity shares and the post-right issue is 53,57,53,771 equity shares assuming full subscription.

Today, shares of Spright Agro Ltd were locked in a 5 per cent upper circuit to Rs 35.80 per share from its previous closing of Rs 34.10. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

Spright Agro Ltd, formerly known as Tine Agro Ltd, is an Indian company established in 1994 that deals in various agricultural products and related activities. Their business encompasses a wide range. They develop industries based on agricultural and forest resources. They also directly participate in farming by planting, growing, and cultivating various crops, including those grown in forests, on plantations, and in greenhouses. Additionally, they import, export, wholesale, retail, and trade in all kinds of agricultural and other commodities, demonstrating their involvement across the entire agricultural supply chain.

Also Read: 4:1 bonus shares in FY24; Rs 2,460 crore order book & FIIs bought 3.27 per cent stake: Multibagger engineering stock under Rs 21 surges over 4 per cent!

The company has a market cap of Rs 1,798 crore and the company’s 100 per cent stake is owned by the public shareholders. From Rs 0.65 (52-week low) to Rs 35..80 per share, the stock gave multibagger returns of 5,400 per cent.

Disclaimer: The article is for informational purposes only and not investment advice. 

1 comments on article "100 per cent publicly owned company: Multibagger penny stock at Rs 35.80 with 5,400 per cent returns; Board announces 1:15 rights issue!"

Rudra

Very nice

6/8/2024 2:07 AM

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