1:2 stock split & Multibagger penny stock below Rs 10: Company bags Rs 50,00,000 order
The stock gave multibagger returns of 320 per cent in 3 years and a whopping 660 per cent in 5 years.
Sprayking Limited, previously known as Sprayking Agro Equipment Limited, has secured a significant domestic order valued at approximately Rs 5 million. The order, received from a precision metal turned parts manufacturer, includes the supply of 63 MM Chrome Plated Pipes, 1/2" Kubix Nipples (Chrome Plated), and 1/2" Shower Hooks (Chrome Plated). This contract is expected to be executed within 12 months.
Earlier, Sprayking Limited approved the sub-division of its equity shares. Each equity share with a face value of Rs 2 will be split into two equity shares with a face value of Re 1 each. This move, pending regulatory and shareholder approvals, aims to boost market liquidity, broaden the shareholder base, and make shares more accessible to small investors. The company's authorised share capital is Rs 22,00,00,000, with Rs 21,13,58,920 paid-up. The record date for this sub-division will be announced later.
Furthermore, the Board also approved a plan to raise up to Rs 50,00,00,000 (Rupees Fifty Crores only) through a rights issue of equity shares. These shares, with a face value of Re 1 each, will be offered to eligible equity shareholders on a record date to be announced. This fundraising initiative is subject to all necessary regulatory and statutory approvals and will comply with relevant SEBI regulations and the Companies Act, 2013.
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About the Company
Sprayking Limited, formerly known as Sprayking Agro Equipment Limited, has rebranded to reflect its evolving business strategy and expanding aspirations in the market. Established in 2005, the company is a distinguished manufacturer specialising in brass and copper components, encompassing fittings, forging equipment, transformer parts, and customised products. Beyond these offerings, Sprayking continues its involvement in the manufacturing and trading of agricultural sprayer parts, garden fittings, extruded brass rods, and lead-free brass fittings. Driven by a commitment to quality craftsmanship and supported by a cutting-edge Research and Development facility, Sprayking has cultivated a significant global footprint, serving a diverse clientele across the USA, Europe, Australia, Canada, South Africa, UAE, and India.
The company has a market cap of over Rs 60 crore and currently the stock is trading below Rs 10 per share. The stock gave multibagger returns of 320 per cent in 3 years and a whopping 660 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.