Multibagger Penny Stock Under Rs 25 Jumps After Announcing Offer for Sale (OFS) Of 2,00,00,000 Equity Shares By Promoter
The stock is up by 32.3 per cent from its 52-week low of Rs 15.65 per share; gave multibagger returns of 355 per cent in 3 years and a whopping 1,100 per cent in 5 years.
On Wednesday, shares of Bartronics India Limited jumped 9.64 per cent to Rs 20.70 per share from its previous closing of Rs 18.88 per share. The stock’s 52-week high is Rs 28.67 while its 52-week low is Rs 13.87. The company has a market cap of over Rs 600 crore. The stock is up by 32.3 per cent from its 52-week low of Rs 15.65 per share; gave multibagger returns of 355 per cent in 3 years and a whopping 1,100 per cent in 5 years.
The Offer for Sale (OFS) by Kinex India Private Limited, a promoter of Bartronics India Limited, represents a significant strategic move to achieve compliance with regulatory requirements for public shareholding. Scheduled for December 18, 2024, for non-retail investors, and December 19, 2024, for retail investors, this OFS involves the sale of 2,00,00,000 equity shares, constituting 6.57 per cent of the company's share capital. The sale is conducted through the stock exchange mechanism, adhering to guidelines set forth by SEBI and operational instructions from both NSE and BSE. With a floor price set at Rs. 19, the process underscores the promoter’s commitment to transparency and regulatory compliance.
The OFS framework offers flexibility for both retail and non-retail investors, with 10% of the shares reserved exclusively for retail participants. The allocation mechanism prioritizes bids above the floor price, ensuring an equitable distribution based on price priority. Non-retail investors also have the option to carry forward unallotted bids to T+1 day. This structured approach, supported by stringent SEBI regulations, aims to enhance investor participation while meeting the stipulated public shareholding norms.
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Bartronics India Limited has diversified its business by acquiring a 6.47 per cent stake in Ampivo Smart Technologies, a Hyderabad-based health-tech startup specializing in digital health solutions. This strategic investment, valued at Rs 1.5 crore, aims to capitalize on the growing digital healthcare market and leverage Ampivo's innovative technologies to address pressing social issues. This move follows Bartronics' earlier MoU with Bestvantage Technology, which aims to leverage its expertise in identifying and evaluating promising investment opportunities within the startup ecosystem, aligning with Bartronics' broader strategic objectives.
About the Company
Bartronics India Limited is a pioneering company in the fintech industry, dedicated to delivering innovative financial solutions and fostering inclusive growth. The mission of the organisation is to provide accessible banking services and empower underserved communities through strategic partnerships and initiatives.
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Disclaimer: The article is for informational purposes only and not investment advice.