Multibagger Penny Stock Below Rs 2: Board to Raise Rs 8,12,50,000 from Satyam Shirishchandra Joshi via Convertible Warrants Allotment
The stock is up by 18.4 per cent from its 52-week low of Re 0.87 per share and has given multibagger returns of over 600 per cent in 5 years.
On Monday, shares of NHC Foods Ltd plunged 1 per cent to Rs 1.03 per share from its previous closing of Rs 1.04 per share. The stock’s 52-week high is Rs 3.71 per share and its 52-week low is Re 0.87 per share.
On June 21, 2025, the Board of Directors of NHC Foods Limited approved raising funds by issuing 6,50,00,000 convertible warrants to non-promoter public investors via a preferential allotment. Each warrant will be priced at Rs 1.25, under SEBI regulations. This proposed issue is contingent on approvals from shareholders, the Stock Exchange, and other regulatory bodies. The total consideration for this issue aggregates to ₹8,12,50,000.
Additionally, the Board approved increasing the company's authorised share capital from Rs 65 crore (65,00,00,000 equity shares of Rs 1 each) to Rs 100 crore (1,00,00,00,000 equity shares of Re 1 each). These warrants are fully convertible into equity shares within 18 months from allotment. Notably, Satyam Shirishchandra Joshi, a non-promoter public investor, is proposed to be allotted all 6,50,00,000 warrants, which would significantly increase their holding to 13.05 per cent.
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About the Company
NHC Foods (NHC) has been a trusted name in the industry since 1960 and is a three-star merchant export house and a leading exporter of premium agricultural commodities and spices. Renowned globally for its expertise in the merchant export of Spices, Food Grains, Oil Seeds, Pulses, and Dry Fruits. NHC proudly serves over 30 countries with its signature brands such as Indi Bite, Eat'mor, and Saaz. With a strong focus on technology upgrades, process improvements, and market diversification, NHC is strategically expanding its footprint both in India and new international markets.
The stock is up by 18.4 per cent from its 52-week low of Re 0.87 per share and has given multibagger returns of over 600 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.