Multibagger penny stock below Rs 10 jumps after announcing record date for 1:2 stock split & 1:3 rights issue of material unlisted subsidiary!

The Board of Directors of Sprayking Limited (formerly Sprayking Agro Equipment Limited) made several key decisions. They approved the acceptance of a Rights Issue of 4,00,000 equity shares, valued at Rs 7,00,00,000 (including premium), from their material unlisted subsidiary, Narmadesh Brass Industries Limited, in a 1:3 ratio. This also included approving the related party transactions for this further investment and authorising the conversion of an existing inter-company loan of up to Rs 7,00,00,000 into equity in Narmadesh Brass Industries Limited against the Rights Issue acceptance. Additionally, the Board fixed Tuesday, August 12, 2025, as the Record Date for the sub-division/split of each equity share from a face value of Rs 2 into two equity shares of Re 1 each.

Additionally, the company is strategically expanding into the global non-metal plumbing market. This move, driven by increasing export demand, diversifies their international product offerings. To support this growth and ensure industry standards are met, the company has invested in advanced machinery and specialised dies for non-metal product manufacturing, solidifying its position in the international plumbing sector.

About the Company

Formerly known as Sprayking Agro Equipment Limited, Sprayking Limited has rebranded to reflect its expanding business strategy and broader market aspirations. Established in 2005, the company specialises in manufacturing and trading a wide range of brass components and parts, including fittings, forging equipment, transformer parts, and customised brass components, as well as agricultural sprayer parts, garden fittings, extruded brass rods, and lead-free brass fittings. Sprayking is also a leading manufacturer of copper forging products, known for its commitment to quality craftsmanship and innovative design. With a global presence across the USA, Europe, Australia, Canada, South Africa, UAE, and India, Sprayking leverages its high-quality products, technical expertise, and state-of-the-art Research and Development facility to remain an industry leader in advancing forging technologies.

On Wednesday, shares of Sprayking Ltd jumped 16.63 per cent to an intraday high of Rs 5.96 per share from its previous closing of Rs 5.11 per share. The stock’s 52-week high is Rs 23 per share and its 52-week low is Rs 5.03 per share. The shares of the company saw a spurt in volume by more than 3.6 times on the BSE. The company has a market cap of over Rs 50 crore. The stock gave multibagger returns of 330 per cent in 3 years and a whopping 590 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.