Madhusudan Kela bought 8,79,121 shares & Sunil Singhania bought 6,00,000 shares of this multibagger pharma stock; Akash Bhanshali owns 1.84 per cent stake!

From Rs 251.80 per share to Rs 544.20 per share, the stock gave multibagger returns of 116 per cent in just 1 year whereas BSE Healthcare Index is 54 per cent.

On Tuesday, one of the Top Gainers on BSE, shares of Shilpa Medicare Ltd gained 6.9 per cent and made a fresh new 52-week high of Rs 544.20 per share from its previous closing of Rs 509.20.

Shilpa Medicare Ltd is an Indian pharmaceutical company that specializes in the development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs). The company has a global presence, with exports to over 65 countries. According to the financials, Shilpa Medicare has a market cap of over Rs 4,600 crore. The shares of the company saw a spurt in volume by more than 2.19 times on BSE.

The sudden rise in the stock price was due to the company's approved allotment of 1,09,89,010 equity shares of face value Rs 1 each to eligible qualified institutional buyers at the issue price of Rs 455 per equity share, i.e., at a premium of Rs 454 per equity share (which includes a discount of Rs 22.33 per equity share (4.68 per cent of the floor price) to the floor price of Rs 477.33 per equity share, aggregating to Rs 4,99,99,99,550, pursuant to the Issue.

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In the allotment, Madhusudan Kela through its fund - COHESION MK BEST IDEAS SUB-TRUST and Sunil Singhania through its fund - ABAKKUS DIVERSIFIED ALPHA FUND-2, bought 6,00,000 shares. Additionally, as of December 2023, Akash Bhanshali owns a 1.84 per cent stake in the company.

From Rs 251.80 per share to Rs 544.20 per share, the stock gave multibagger returns of 116 per cent in just 1 year whereas BSE Healthcare Index is 54 per cent. Investors should keep an eye on this Small-Cap pharma stock.

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