This Multibagger Micro-cap Company to issue Rs 1.97 crore Preference Shares and Rs 81 lakh worth Share Warrants: Stock Price Locked in 5 Per cent Upper Circuit!
The stock price has given multibagger returns of 157 per cent in last one year.
Tembo Global Industries Limited has announced that it has received in-principle approval from the National Stock Exchange of India Limited (NSE) for the preferential issue of securities. This approval, granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pertains to the following:
Issue of 19,79,000 Equity Shares: Each equity share has a face value of Rs 10.
Issue of 8,10,000 Share Warrants: These warrants are convertible into equity shares with a face value of Rs 10 each.
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The preferential issue is targeted toward both promoter and non-promoter categories.
Earlier, The group company of Tembo Global Industries Limited, Tembo Defence Products Private Limited, has been invited to participate in a significant event at the World Economic Forum in Davos, Switzerland. During this prestigious event, the company will sign a Memorandum of Understanding (MOU) with the Government of Maharashtra to establish a state-of-the-art defence manufacturing facility in the state. This collaboration is in line with the Government of India’s “Make in India” initiative, aimed at boosting indigenous manufacturing and strengthening the nation’s defence capabilities.
The signing of this MOU signifies a pivotal step in strengthening India's defence manufacturing sector, advancing indigenous production capabilities, and enhancing the country's defence preparedness. The partnership underscores the shared commitment between Tembo Defence Products and the Government of Maharashtra to bolster the nation’s security infrastructure.
Incorporated in 2010, Tembo Global Industries Ltd manufactures and trades fabricated metal products
The company has a market capitalisation of Rs 857 crore. Shares of Tembo Global Industries are trading at Rs 772 per share while it has recorded a 52-week high of Rs 905 and 52-week low of Rs 191. The stock price has given multibagger returns of 157 per cent in last one year. Company has delivered good profit growth of 46.3 per cent CAGR over last 5 years and it’s median sales growth is 24.6 per cent of last 10 years
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.