Rs 104.76 Crore Order Book: Multibagger Penny Stock Under Rs 65; Board Allocates 31,45,715 Convertible Warrants to Promoters & Non-Promoters
The stock has given multibagger returns of 420 per cent in just 2 years and a whopping 2,200 per cent in 5 years.
Expo Gas Containers Limited has announced a proposal to raise capital up to Rs 220,200,050 (Rupees Twenty-two crore Two Lakh Fifty Only) through a preferential issue of 31,45,715 fully convertible warrants. Each warrant, priced at Rs 70 (including a premium of Rs 66), is convertible into one equity share with a face value of Rs 4. The issuance targets both non-promoter and promoter categories, subject to shareholder approval. Investors are required to pay 25 per cent of the issue price (Rs 17.50 per warrant) upfront at the time of application, with the remaining 75 per cent due upon conversion of the warrants into equity shares, which must occur within 18 months from the date of allotment.
This fundraising initiative aims to bolster the company's financial position, providing it with immediate capital from the initial 25 per cent payment and ensuring a future inflow upon conversion. The terms stipulate that each warrant will be exchanged for one fully paid-up equity share of Rs. 4 face value, in adherence to SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has set the "Relevant Date" for this preferential issue as Wednesday, May 28th, 2025, emphasising its commitment to transparency and compliance in its capital-raising endeavours.
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Established in 1982, Expo Gas Containers Ltd (EGL) is a heavy engineering firm based in Pune, specialising in process plant equipment like pressure vessels and deaerators, alongside turnkey projects and piping solutions. With ISO certifications, EGL provides comprehensive services from design to installation, manufacturing a wide array of equipment using diverse metallurgies. The company also handles on-site projects such as storage tanks and offers maintenance and repair services for industrial equipment.
The stock’s 52-week high is Rs 77.55 per share and its 52-week low is Rs 30.25 per share. The company has a market cap of over Rs 100 crore and has an order book of Rs 104.76 crore as of March 2025. The stock has given multibagger returns of 420 per cent in just 2 years and a whopping 2,200 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.