Multibagger Penny Stock Below Rs 10 in Focus as Board is Likely to Announce Stock Split and Raising of Funds on June 10, 2025
The stock gave multibagger returns of 360 per cent in 3 years and a whopping 785 per cent in 5 years.
Sprayking Limited, a plumbing fittings manufacturer based in Jamnagar, announced that its Board of Directors will convene on Tuesday, June 10, 2025. The key agenda items for this meeting include considering and approving a subdivision or stock split of the company's equity shares. Additionally, the board will discuss a proposal to raise funds through the issuance of equity shares, convertible securities, or other eligible securities, potentially via a rights issue, preferential basis, or other permissible methods, subject to necessary regulatory approvals. Any other relevant matters may also be addressed with the Chair's permission.
Recently, the company successfully imported new machinery from China worth approximately Rs 3,50,00,000. This strategic investment, which includes 2 rotary transfer machines, 2 double head CNC machines, 2 CNC machines with rotary chuck and power turret, 2 CNC machines with servo operated stationary (slant bed), 2 CNC machines with servo operated stationary (flatbed), 2 CNC linear machines (flat bed), and 7 additional CNC linear machines (flatbed), is expected to increase their daily production capacity by roughly 1 ton. This enhancement will enable Sprayking Limited to handle larger orders, ensure high precision and quality, offer competitive pricing, and meet strict delivery timelines.
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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 360 per cent in 3 years and a whopping 785 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.