Ashish Kacholia sold 40,36,118 hares of this multibagger penny stock under Rs 20: Rights issue subscribed 92.11 per cent & Order book stands at Rs 1,800 crore
An ace investor - Ashish Kacholia sold 40,36,118 shares and now owns 1,80,00,000 shares or a 2 per cent stake in the company as of December 2024.
The recent rights issue of Jyoti Structures Limited, which opened on February 17, 2025, and closed on March 10, 2025, garnered a subscription of Rs 459.69 crores, amounting to 92.11% of the total issue size of Rs 499.09 crores. The company expressed gratitude to its shareholders for their continued support. With a carry-forward order book exceeding Rs 1,800 crores, Jyoti Structures Limited is poised to execute the majority of these orders within the next 12 to 18 months. This development underscores the company's robust operational capabilities and its strategic focus on strengthening its market presence in the power transmission sector. The rights issue and the substantial order book position the company for potential growth, making it an exciting prospect for investors seeking opportunities in the power sector.
Earlier, Jyoti Structures Limited has secured significant contracts, bolstering its position in the power transmission sector. Recently, they were awarded a Rs 389.36 crore project by Adani Energy Solutions Limited for a 765 kV DC transmission line between Boisar and Pune, with an 18-month completion timeline. This follows a larger Rs 741.28 crore order from PowerGrid Corporation of India Limited for a ± 800 kV HVDC BIPOle Line in Khavda, Gujarat, a 42-month turnkey project marking the company's highest-value EPC order in recent years, encompassing comprehensive services from design to commissioning.
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About the Company
Established in 1974, Jyoti Structures Limited is a leading power transmission company headquartered in Mumbai, India. They specialize in turnkey projects for transmission lines, substations and distribution systems, offering a comprehensive range of services from design and manufacturing to construction globally. Jyoti Structures Limited is one of the few EPC service providers with the capability to execute entire power transmission projects. Jyoti Structures Ltd has a market capitalisation of over Rs 2,200 crore.
Results: The net sales increased by 146 per cent to Rs 137.35 crore while net profit increased by 963 per cent to Rs 11.48 crore in Q3FY25 compared to Q3FY24. In 9MFY25, the net sales increased by 3.31 per cent to Rs 333.13 crore and net profit increased by 60 per cent to Rs 23.63 crore compared to 9MFY24. In its annual results, the net sales increased by 96.9 per cent to Rs 451.38 crore in FY24 compared to Rs 229.23 crore in FY23. The company reported a net profit of Rs 28.86 crore in FY24 compared to a net loss of Rs 4.07 crore in FY23, an increase of 809 per cent.
An ace investor - Ashish Kacholia sold 40,36,118 shares and now owns 1,80,00,000 shares or a 2 per cent stake in the company as of December 2024. Additionally, Ashish Kacholia’s investment firm Bengal Finance & Investment Pvt. Ltd owns 1,80,00,000 shares or 2 per cent stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.