28 Jun , 2022 By : Kanchan Joshi
Priti International Limited is a small-cap company which ended with a market cap of Rs122 crore on Monday session. The company has recently announced preferential issue that probably has boosted the morale of market investors. The furniture company announced 30,11,000 warrants convertible into 30,11,000 equity shares of Rs10 each on preferential basis. The company informed about the approval of preferential issues to the NSE on 24th June 2022 and the stock hit upper circuit on Monday.
Informing about the preferential issue to NSE, Priti International Limited said, "This s is to inform you that the Board of Directors at its meeting held on 22 June, 2022 has, inter alia, approved issue of 30,11,000 warrants convertible into 30,11,000 equity shares of Rs. 10/- each on preferential basis, to promoter/promoter group and others (i.e. personal entities not forming part of the promoter and promoter group), in compliance with applicable provisions of SEBI ICDR Regulations, 2018, as amended subject to the approval of the shareholders of the Company and such other regulatory/statutory approval as may be required."
Each warrant is convertible into one (1) equity share and the conversion can be exercised at any time during the period of 18 months from the date of allotment of warrants on such other terms and conditions as applicable.
In last one month, this small-cap stock has surged from Rs71.80 apiece levels to Rs117.20 per share levels, logging around 60 per cent rise in this time horizon whereas in last three months, Priti International share price has ascended from Rs68 to Rs117 levels, recording 72 per cent surge in this period.
The small-cap stock ended on Monday with a trade volume of 32,572. Currently, book value per share of this NSE listed stock is 17.13 while its current PE multiple is 29.67.
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