Don’t miss action in this multibagger micro-cap stock that has announced rights issue!

The stock gave multibagger returns of 165 per cent in 3 years whereas BSE Sensex Index is up by 88 per cent.

On Friday, one of the Top Gainers on BSE, shares of Vintage Coffee and Beverages Ltd was locked in 5 per cent upper circuit to Rs 25.38 per share. At 03:30 pm, shares of the company ended the day in green, up 2.69 per cent to Rs 24.83 per share.
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.

Vintage Coffee is into the manufacturing of Instant Coffee. They are primarily supplying to domestic markets and majorly exporting to various countries. The shares of the company saw a spurt in volume by 4.21 times on BSE.

According to the financials, Vintage Coffee and Beverages has a market cap of Rs 175 crore. The company reported excellent numbers in its Quarterly Results and annual results.  As of March 2023, the promoters of the company hold a 69.71 per cent stake, while the remaining 30.11 per cent is owned by the general public.

The stock gave multibagger returns of 165 per cent in 3 years whereas BSE Sensex Index is up by 88 per cent. Investors should keep an eye on this micro-cap stock under the radar.