Srestha Finvest Ltd Penny Stock: Share from Shrestha Finvest Ltd is in focus today in trading on Monday.
Shrestha Finvest’s stock hit the upper end of 5 percent and it hit an intraday high of the price of Rs 0.71.
The previous closing price was 0.68 rupees. There’s a major reason for this increase in the price of shares.
The company made public on Friday that it had called an extraordinary general assembly (EGM) to vote on an extraordinary resolution to raise funds via QIP.
In an exchange report after the market closed on November 8th, the company stated that the EGM of owners of the NBFC company was held on November 8 at the headquarters in Chennai.
What Is The Detail?
On the 9th of October, shareholders of the board decided to approve the acquisition of funds for Rs 100 crores by offering equity shares that have an amount of 1 rupee each via Qualified Institutional Placement (QIP).
The company’s board also endorsed the issue of 93 crore equity shares that have an amount of 1 rupee each at an offer price of 1.05 rupees with an additional premium of 0.05 rupees for each share.
In the preferred issue, shares totaling 93 crores are assigned to a variety of allottees. Additionally, the board also decided to raise the limit of borrowing for the company to Rs 500 crore.
Share Status
This penny stock has experienced a gradual rise in the last year. Throughout this time it has increased by 10 percent.
It reached the 52-week low of Rs 0.49 in March, this year, and then a 52-week high of 1.28 on the 26th of July. The stock has increased 17 percent in the last year.
Every month the stock is experiencing an impressive increase in November since it has increased by 8 percent during the month.
The stock has suffered huge losses of 12 percent, 20 percent, and 19 percent in August, September, and October according to.
In July of this year, the board of directors voted in favor of a split of the stock in the ratio 1:2. It wasn’t the first time the penny stock had declared the split.
On the 13th of October in 2016 the penny stock was traded on the open market in a 1:5 ratio.
Quick Fact
| Company name | Shrestha Finvest |
|---|---|
| Stock increase | 5% |
| Intraday high | ₹0.71 |
| Previous close | ₹0.68 |
| Fundraising decision | QIP |
| EGM date | November 8 |
| EGM location | Chennai headquarters |
| Fundraising target | ₹100 crore |
| Share value | ₹1 each |
| Issue method | QIP |
| Board approval date | October 9 |
| Total shares issued | 93 crore |
| Offer price | ₹1.05 |
| Premium per share | ₹0.05 |
| Borrowing limit | ₹500 crore |
| Annual rise | 10% |
| 52-week low | ₹0.49 |
| 52-week high date | July 26 |
| Monthly rise (Nov) | 8% |
| Loss in August | 12% |
| Loss in September | 20% |
| Loss in October | 19% |
| Stock split date | July (current year) |
| Split ratio (2023) | 1:2 |
| Previous split date | October 13, 2016 |
| Previous split ratio | 1:5 |
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