DSIJ Mindshare

Penny stock below Rs 5 hits upper circuit as 10,00,00,000 warrants allotted to promoter

But there was one stock that was creating ripples in this sea of tranquility

Karan Dsij 0 18636 Article rating: 3.8

A whopping 10,00,00,000 (Ten Crores) of them, locked in a dance of financial alchemy. These warrants were set to be handed over to the 'Promoter' on a preferential basis at an enticing issue price of Rs. 3.40 per warrant. It was an opportunity that couldn't be ignored.

Penny stock under Rs 5 to raise up to Rs 34,00,00,000 by allotting convertible warrants to promoter for company’s growth; do you own it?

From 0.19 per share to Rs 3.03 per share, the stock gave multibagger returns of over 1,495 per cent in 16 years.

Kiran Shroff 0 15302 Article rating: 3.7

The company has already repaid Rs 50 lakh of its bank debt, bringing it down to Rs 6 crore. The company plans to repay an additional Rs 10 crore by the end of this quarter and become debt-free by FY 2023-24. In FY23, the company's net sales increased by 61.2 per cent to Rs 403 crore and its net profit increased by 900 per cent to Rs 10 crore compared to FY22.

Penny stock under Rs 5 likely to raise funds up to Rs 35,00,00,000 after debt reduction programme!

The stock is trading at 1.14 times its book value.

Kiran Shroff 0 28662 Article rating: 3.7

Earlier, the company paid back another Rs 50 lakh, taking its total bank debt down to Rs 6 crore. The company plans to pay back an additional Rs 10 crore by the end of this quarter and become debt-free by FY2023-24. In FY23, the net sales increased by 61.2 per cent to Rs 403 crore and net profit increased by 900 per cent to Rs 10 crore compared to FY22.

Penny stock under Rs 5: This micro-cap stock announced debt reduction programme; target to become debt free in FY24!

From 0.17 per share to Rs 3.04 per share, the stock gave multibagger returns of over 1,690 per cent in 16 years.

Kiran Shroff 1 14383 Article rating: 3.8

Additionally, the Company has paid back Rs 70 million approx., taking the total amount of bank debt down to Rs 650 million approx. and the overall bank-debt reduction till date from the peak to Rs 962 million.  

Penny stock under Rs 5: This micro-cap company to establish world-class research laboratory with NABL Accreditation post debt reduction program!

From 0.67 per share to Rs 3.04 per share, the stock gave multibagger returns of over 350 per cent in 16 years.

Kiran Shroff 1 16393 Article rating: 3.7

Earlier, the company paid back Rs 70 million approx., taking the total amount of bank debt down to Rs 650 million approx. and the overall bank-debt reduction till date from the peak to Rs 962 million. It is pertinent to add that the company has set a goal for becoming a 100 per cent debt-free entity within FY 2023-2024 under a debt reduction program.

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