Multibagger penny stock under Rs 15: Board announces stock split for first time ever and raising funds for future growth & expansion!
The stock gave multibagger returns of 147 per cent in just 1 year, 260 per cent in 2 years and whopping 500 per cent in 3 years.
GI Engineering Solutions Limited, (the name being changed to 'Teamo Productions HQ Ltd' to reflect the business activities more appropriately in sync with the contemporary business environment and to enhance its brand equity), informed that the Board of Directors of the company has approved stock split of shares for the first time ever i.e., split/sub-division of 1 equity share and preference share of the company having face value of Rs 10 each into 10 equity shares and preference shares of the company having face value of Rs 1 each which is 10:1.
Additionally, the Board have approved fund raising fresh approval, by issuance and allotment of equity shares for aggregate amount not exceeding Rs 100 crore by way of QIP’s, ADR, GDR, FCCB or any other method or combination thereof including issuance of securities on right basis, in one or more tranches, on such terms as may be decided by the Board in the meeting. These funds will be used for future growth and expansion of business.
Teamo Productions HQ Ltd is in the business of civil engineering and IT support and is exploring different avenues to expand its business through new avenues, agreements, acquisitions, joint ventures and other strategic alliances to broaden base the of business interests.
On Friday, shares of Teamo Productions HQ Ltd surged 1.71 per cent to Rs 11.27 per share with an intraday high of Rs 11.59 and an intraday low of Rs 10.95. The stock’s 52-week high is Rs 38.28 and its 52-week low is Rs 4.55. The company has a market cap of Rs 97.05 crore.
The stock gave multibagger returns of 147 per cent in just 1 year, 260 per cent in 2 years and whopping 500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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