Plastic penny stock below Rs 2.5 gets approval to raise Rs 49 crore through rights issue – Details inside!
The stock is trading at Rs 2.26 with book value of Rs 0.2 per share.
Ahmedabad-based Bisil Plast Ltd has announced that its BOD has approved a rights issue to raise up to Rs 49 crore.
The rights issue will involve the issuance of 48.62 crore fully paid-up equity shares at a face value of Rs 1 per share. The record date for determining eligible shareholders has been set for March 8, 2025. Under the rights entitlement ratio, shareholders will receive nine new equity shares for every one share held. The issue will open on March 18, 2025, with the last date for renunciation set for April 7, 2025. The issue is scheduled to close on April 11, 2025, although the board retains the right to extend the period within the regulatory limit of 30 days.
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Additionally, the board has approved the appointment of Ms. Nidhiben Ravindrakumar Joshi as an Additional Independent Director. The appointment is subject to shareholder approval.
About Company
Bisil Plast Ltd. engages in the manufacturing and selling of plastic bottles. It involves in business of dealing in PET bottles and jars by way of whole sale supply to pharmaceutical companies, FMCG companies, and bottling companies. The company was founded on September 25, 1986 and is headquartered in Ahmedabad, India.
With a market capitalisation of Rs 12.2 crore and a PE ratio of 204x, the company trades at a premium compared to the industry PE of 26.3x. The company has ROCE of 21.4 per cent and ROE of 21.4 per cent. The stock is trading at Rs 2.26 with book value of Rs 0.2 per share.
Investors should keep an eye on this micro-cap Penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.