This NBFC stock in focus after conversion of warrants into equities

Mumbai:

Shares of Kolkata non-banking financial company (NBFC) Mufin Green are in focus after receiving an equity infusion of Rs 4.95 crore through the conversion of warrants. The counter opened in the green at Rs 77.44 on the BSE against the previous close of Rs 77.02. It gained further to touch the high of Rs 78.55. The stock’s 52-week high is Rs 141.60, and the 52-week low is Rs 63.66. The NBFC’s market cap is Rs 1,264 crore.

12 Lakh Warrants Converted In Equity Shares 

The company has informed exchanges that its committee of directors has approved the preferential conversion of 12 lakh warrants into equity shares of face value of Re 1 each. The conversion was approved upon receipt of Rs 4.95 crore at the rate of Rs 41.24 per warrant. 

Following this conversion, the issued and paid-up capital of the company stands at Rs 16.46 crore. 

“Consequently, the issued and paid up capital of the Company stands increased to Rs 16,46,90,172/- consisting of 16,46,90,172 equity shares of Re. 1/- each,” the company said in the exchange filing. 

The new equity shares so allotted shall rank pari passu with the company’s existing equity shares.

It is to be noted that the company had informed about the allotment of 2.55 crore convertible warrants at an issue price of Rs 55 each and face value of Re 1. 

Share Price History

The counter has given a multibagger return of 3,532 per cent in five years and 488 per cent in three years. However, it has corrected 28 per cent in one year and 37 per cent in six months. 

Stock Market Today

Meanwhile, benchmark stock indices rebounded in early trade on Wednesday amid a strong rally in global markets.

The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70.25 points to 24,612.75.

Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors, and Bajaj Finance were the major gainers among the Sensex pack.