11 Consecutive Lower Circuit & 1,380 Per Cent Multibagger Returns: Board Announce 10:1 Stock Split & Rs 336,00,00,000 Funds via Preferential Issue

The stock gave multibagger returns of 1,380 per cent from its 52-week low of Rs 18 per share.

Today, the shares of Mehai Technology Ltd hit a 2 per cent lower circuit to Rs 267.05 per share from its previous closing of Rs 272.45 per share. The stock’s 52-week high is Rs 340.10 per share while its 52-week low is Rs 18 per share.

Mehai Technology Ltd manufactures and sells lighting products. The company offers LED bulbs, tube lights, and power banks. Mehai Technology also renders after-sale services. The company is an electronics retail chain operator in Eastern India which provides customers with a one-stop-shop for all their electronics needs. At present, the company has 16 electronics retail stores in Patna and plans to open 4 new stores in Kolkata

Mehai Technology Limited proposes to issue up to 1,00,00,000 Convertible Equity Share Warrants (Warrants) on a preferential basis to Promoters, Promoter's Group, and Public Investors. Each Warrant will entitle the holder to subscribe to one Equity Share of the Company having a face value of Rs 10 each for Rs 336 (including a premium of Rs 326, aggregating up to Rs 336,00,00,000. The Company has also considered and approved the split of 1 (One) equity share with a face value of Rs 10 each into 10 equity shares with a face value of Re 1 each, and the consequent alteration of the Capital Clause (Clause V) of the Memorandum of Association (MOA). This split is subject to the consent of the Company's members. The record date for the equity share split will be determined by the Board and communicated to the exchange in due course.

According to the financials, Mehai Technology has a market cap of Rs 794 crore. The company reported positive numbers in its Quarterly Results and nine-month results. The stock gave multibagger returns of 1,380 per cent from its 52-week low of Rs 18 per share.

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