30,600 Multibagger Returns in Just 5 Years: Board Allotted 1,91,781 Shares to Promoters of This Defence Company!
The company’s shares have delivered a multibagger of over 350 per cent to its shareholders in just 1 year.
Incorporated in 2005, This defence company specializes in manufacturing critical components for defence, electric vehicles, and software development.
The Board of Directors of Nibe Ltd, through a Circular Resolution passed unanimously on July 22, 2024, has allotted 1,91,781 Equity Shares with a face value of Rs 10 each, fully paid up, at an issue price of Rs 365 per share. This allotment follows the conversion of 1,91,781 Warrants issued to Promoter or Promoter Group shareholders on a preferential basis, after receiving 75 per cent of the subscription amount for these Warrants. Details of the allotment are as follows:
Manjusha Ganesh Nibe: Held 1,64,384 Warrants, and applied for conversion of all 1,64,384 Warrants, resulting in the allotment of 1,64,384 Equity Shares. No Warrants are outstanding for conversion.
Bhagesh Ganesh Nibe: Held 27,397 Warrants, applied for conversion of all 27,397 Warrants, resulting in the allotment of 27,397 Equity Shares. No Warrants are outstanding for conversion.
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In total, the Promoter Group has been allotted 1,91,781 Equity Shares. These shares, allotted upon conversion of Warrants, will rank pari passu in all respects with the existing Equity Shares of the Company. Following this allotment, the Company's paid-up Equity Share Capital has increased from Rs 13,13,21,850 to Rs 13,32,39,660, consisting of 1,33,23,966 fully paid-up Equity Shares of Rs10 each.
Today, Nibe Ltd shares closed at around Rs 1977.65 per share. The company’s current market capitalization stands at Rs 2597.09 crore. The stock has delivered a return of over 350 per cent in just 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Nibe Ltd recorded a revenue of Rs 149 crore. The operating profit for Q4 FY24 stood at Rs 62 crore. The net profit for Q4 FY24 was Rs 12 crore. Looking at the annual performance, the company generated a revenue of Rs 279 crore in FY24. The operating profit for FY24 was Rs 37 crore with a net profit of Rs 22 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.