FIIs bought 1,07,00,000 shares of this penny stock under Rs 5; Board approved the issue of the foreign currency convertible bonds!

According to the financials, this FMCG company has a market cap of over Rs 300 crore and reported amazing numbers in its quarterly results (Q4FY24) and annual results (FY24).

Evexia Lifecare Limited (BSE Script Code: 524444) held a board meeting on Friday, July 26th, 2024, at their corporate office in Vadodara, India. During the meeting, the board approved the conversion of 25 foreign currency convertible bonds (FCCBs) into equity shares. This follows the approval for issuing FCCBs granted by the company members during the Annual General Meeting held on July 9th, 2022. The conversion will be executed according to the terms and conditions established when the FCCBs were issued.

Today, shares of Evexia Lifecare zoomed 1.35 per cent to Rs 3 per share from its previous closing of Rs 2.96. The stock gave 93.55 per cent returns from its 52-week low of Rs 1.55 per share.

Evexia Lifecare Limited formerly known as Kavit Industries Limited is engaged in the trading of chemicals, agricultural produce and various other products of consumer goods. The company has also formed a new subsidiary firm to set up pathology labs in Africa.

According to the financials, this FMCG company has a market cap of over Rs 300 crore and reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). In Q1FY25, FIIs bought 1,07,00,000 shares or 1.03 per cent stake in the company. Investors should keep an eye on this micro-cap stock under the radar.

Disclaimer: The article is for informational purposes only and not investment advice. 

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