Multibagger penny stock under Rs 2: This micro-cap company receives an expression of interest from Alliance Global Blanco Ltd!
The stock is up by 30 per cent in just 1 year, up 370 per cent in 2 years and gave multibagger returns of over 1,300 per cent in the span of 3 years.
Visagar Financial Services Ltd announced that an England-based Alliance Global Blanco Ltd, a distinguished wealth and asset management firm which manages more than USD 150 billion, has expressed a keen interest in acquiring a significant stake in Visagar Financial Services Ltd. This exciting possibility has ignited a wave of investor enthusiasm, propelling the share price of Visagar Financial to new heights.
Visagar Financial Services is a prominent NBFC operating in the investment and financial services sector. Part of the Visagar Group, it holds diversified investments in listed and unlisted securities across various industries, including financial services, education, and real estate.
In addition to its investment activities, the company offers a range of financial and corporate advisory services, such as debt financing, foreign currency financing, and promoter PMS. Currently, Visagar Financial Services stands as a zero-debt penny stock, trading under Rs 2, with a market capitalization of Rs 63.10 crore. The news of Alliance Global's interest has created a buzz in the financial markets, with investors eagerly watching the potential strategic partnership between the two companies.
The buzz is created because Alliance Global is a well-reputed Asset Management firm which manages assets worth more than USD 150 Billion. This strategic move of Alliance Global might be the touch point to enter the Indian Financial Industry, with the help of Visagar Financial Services. While no direct announcements have been made regarding the means & methods of share purchases, the implications of such a collaboration are clear, and market experts anticipate a bright future for Visagar Financial.
Visagar Financial Services witnessed an astounding 230 per cent surge in revenue, from Rs 16.82 crore in 2022 to Rs 49 crore in 2023. Moreover, the company demonstrated remarkable profit growth of 430 per cent, reporting a profit of Rs 0.24 crore in 2022, which soared to Rs 1.28 crore in 2023.
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On Friday, one of the Top Gainers on BSE, shares of Visagar Financial Services zoomed 5 per cent upper circuit to Rs 1.13 per share from its previous closing of Rs 1.08. The stock is up by 30 per cent in just 1 year, up 370 per cent in 2 years and gave multibagger returns of over 1,300 per cent in 3 years.
Additionally, the company announced a bonus issue of one bonus share for every two existing shares, a stock split from a face value of Rs 2 to a face value of Rs 1 and a rights issue in the ratio of 51:10. The ex-bonus date and ex-split date were January 1, 2022, and the ex-rights issue date was December 30, 2022. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.