Penny Stock Below Rs 30: Promoter Group Member Acquires 25,00,000 Shares in This Micro-Cap Stock via Warrant Conversion
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The stock price has surged over 185 per cent in the last 5 years. The stock has also delivered about 3.63 per cent returns from its 52-week low of Rs 21.20 per share.
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On Friday, shares of Bhatia Communications & Retail (India) Ltd fell 1.35 per cent to Rs 21.97 per share from its previous closing of Rs 22.27 per share. The stock’s 52-week high is Rs 34.40 per share and its 52-week low is Rs 21.20 per share. On Friday, shares of the company closed at Rs 21.97. During the session, the stock touched an Intraday high of Rs 22.16, which was about 0.49 per cent lower than the previous close.
Surat-based Bhatia Communications & Retail (India) Ltd, a BSE-listed retail company, has disclosed a significant share acquisition by a member of its promoter group. Garima Nikhil Bhatia acquired a substantial number of shares in the company, strengthening the promoter group’s holding.
The acquisition took place on March 9, 2026, and involved the allotment of 25,00,000 equity shares. These shares were issued through preferential allotment following the conversion of warrants previously held by the acquirer.
Before the conversion, Garima Nikhil Bhatia held 280 equity shares, representing nearly 0.00 per cent of the voting capital, along with 25,00,000 warrants. After the conversion of these warrants into equity shares, the total shareholding increased to 25,00,280 equity shares, raising the individual’s stake to 1.78 per cent of the company’s total voting capital.
The preferential allotment has resulted in an increase in the company’s overall equity base. The total equity share capital of Bhatia Communications & Retail (India) Ltd expanded from 13,01,52,000 equity shares to 14,06,52,000 equity shares, each having a face value of Re 1 per share.
The disclosure was formally filed on March 11, 2026, in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to BSE as well as the company’s registered office in Surat, Gujarat.
Bhatia Communications & Retail (India) Ltd is primarily engaged in the retail distribution of mobile handsets and consumer electronic products. The investment by a promoter group member reflects continued confidence in the company’s capital structure and long-term growth prospects.
The company has a market cap of over Rs 300 crore. The stock price has surged over 185 per cent in the last 5 years. The stock has also delivered about 3.63 per cent returns from its 52-week low of Rs 21.20 per share.
Disclaimer: The article is for informational purposes only and not investment advice.