Multibagger stock under Rs 50: This micro-cap company receives Rs 81,24,16,000 from stake sale in ANS Developers Pvt Ltd; scrip jumps over 4 per cent!

The stock gave multibagger returns of 130 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.

In the dynamic world of finance and investments, UY Fincorp Limited has emerged as a shining star. This Kolkata-based RBI registered Non-Banking Financial Company (NBFC) has consistently demonstrated its prowess in the financial arena.

A strategic move aimed at unlocking value and optimizing its portfolio, UY Fincorp has announced the disinvestment of its entire equity stake in ANS Developers Private Limited (ADPL). Holding 32,00,000 Equity Shares, representing a 14.13 per cent equity stake in ADPL, the company entered into a Share Purchase Agreement (SPA) with Golden Goenka Credit Private Limited (GGCPL).

These shares were originally bought for Rs 25 each, totalling Rs 8 crore. Now, UY Fincorp has agreed to sell all its shares in ADPL to Golden Goenka Credit Private Limited (GGCPL). The selling price will be based on a valuation certificate issued by either a Chartered Accountant or a SEBI-approved Merchant Banker, whichever is higher. This valuation is based on ADPL's financial statement as of March 31, 2023. UY Fincorp has received these valuation certificates from GGCPL, and they show that each share is worth Rs. 253.88. So, the total sale amount is Rs 81.24 crore.

UY Fincorp is receiving a substantial amount of money, Rs 81.24 crore, from this sale. This will add to their financial resources. The extra funds from this sale can be used by UY Fincorp to invest in new opportunities and strengthen its financial position, which can lead to more financial stability. By selling its stake in ADPL, UY Fincorp can now focus more on its core business activities, such as providing loans and financial services, which may lead to increased revenue and profits in its primary business.

On Wednesday, shares of UY Fincorp zoomed 4.61 per cent to an intraday high of Rs 30.39 per share from its previous closing of Rs 29.05 with a spurt in volume by more than 1.13 times on BSE.

U. Y. Fincorp Limited is a Kolkata-based RBI registered Non-Banking Financial Company (NBFC). The company has a market cap of over Rs 560 crore. In Q1FY24, the net sales increased by 116.66 per cent to Rs 20.73 crore and net profit increased by 165.08 per cent to Rs 4.33 crore compared to Q1FY23.

The stock gave multibagger returns of 130 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent. Investors should keep an eye on this micro-cap NBFC stock.

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