The stock gave multibagger returns of 149 per cent from its 52-week low of Rs 1.55 per share.
Today, shares of Evexia Lifecare Ltd zoomed 1.86 per cent to Rs 3.86 per share from its previous closing of Rs 3.79 on BSE. The stock gave multibagger returns of 149 per cent from its 52-week low of Rs 1.55 per share.
EvexiaLifecare Limited has announced its intention to issue up to 24,00,00,000 convertible warrants for Rs 3.60 per warrant. Each warrant can be converted into one fully paid-up equity share of the company with a face value of Re 1 and a premium of Rs 2.60, aggregating to a total of Rs 86,40,00,000. This preferential allotment is being made by the provisions of the Companies Act, 2013, the Companies (Prospectus and Allotment of Securities) Rules, 2014, the Companies (Share Capital and Debentures) Rules, 2014, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws.
The proposed allottees will be required to pay 25 per cent of the total issue size upfront upon issuing the warrants. The warrants will be issued on a private placement basis and will be convertible into equity shares within 18 months from the date of issue. The issue price per warrant is Rs 3.60, and the total number of investors is two: Raghuvir International Pvt Ltd and Shree Saibaba Exim Pvt Ltd. 12,00,00,000 warrants to each investor have been allocated.
DSIJ’s ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
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 430 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). In Q1FY25, FIIs took a fresh entry & bought over 1 per cent stake or 1,07,00,000 shares 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.
Read More: Multibagger Penny Stock Below Rs 5 Hit 52-Week High On September 26