Ashish Kacholia gains Rs 2,64,32,937 in this recently listed IT stock in just 1 day; Company bags new order worth Rs 98,64,000 from BOB Financial Solutions Ltd!

Ashish Kacholia brought 18,29,269 shares or 1.50 per cent stake in the company, aggregating to Rs 30 crore via private placement.

On Friday, the benchmark indices ended the trading session in green, the BSE Sensex Index up 0.55 per cent at 65,995.

Along with the market in green, one of the Top Gainers on BSE, shares of this recently listed IT stock surged 14.45 points or 7.12 per cent to Rs 217.40 per share from its previous closing of Rs 202.95. The stock also made a new 52-week high of Rs 222.30 per share. The stock falls under the S&P BSE IPO Index.

Order Update: The company informed that it has entered into a contract with BOB Financial Solutions Limited for implementing a commercial card onboarding & value-added services platform. The order is worth Rs 98,64,000 and will be completed within 5 years from the letter of intent (LOI). (This is the first order that the company received after getting listed on the exchange).

Ace Investor Update: Ashish Kacholia brought 18,29,269 shares or 1.50 per cent stake in the company at Rs 164 per share aggregating to Rs 30 crore via private placement before the IPO was launched. As of Friday's closing, he made a profit of Rs 14.45 per share.

Hence, 18,29,269 shares x Rs 14.45 = Rs 2,64,32,937 in just 1 day.

About the company: Incorporated in 2011, it provides financial technology (fintech) products and services to manage corporate business expenses through automated and innovative workflows. The company offers fintech and SaaS products and services to corporates working in the fields of banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries.

Financials: The company has a market cap of Rs 2,655 crore. The net sales increased by 49.80 per cent to Rs 553.46 crore, EBITDA decreased by 19.64 per cent to Rs 48.09 crore and net profit decreased by 45.37 per cent to Rs 22.90 crore in FY23 compared to FY22.

The stock name is ZAGGLE PREPAID OCEAN SERVICES LTD.

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