Multibagger penny stock below Rs 10: Board announces 1:2 stock split & Rights issue exceeding Rs 50,00,00,000
The stock gave multibagger returns of 338 per cent in 3 years and a whopping 765 per cent in 5 years.
At its Board meeting today, June 10, 2025, 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.
Recently, Narmadesh Brass Industries Limited, a subsidiary of Sprayking Limited, has secured an export contract worth Rs 5.2 crore for brass billets. This order was awarded by Green Metals FZCO of Dubai, with the brass billets destined for China. The contract is to be executed within 45 days, further solidifying Sprayking Limited's global market presence and Narmadesh Brass Industries' reputation for high-quality precision brass components.
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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 70 crore and currently the stock is trading below Rs 10 per share. The stock gave multibagger returns of 338 per cent in 3 years and a whopping 765 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.