Multibagger small-cap stock, Share India Securities Ltd, rockets 20% upper circuit with the 1-year highest volume

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Multibagger small-cap stock, Share India Securities Ltd, rockets 20% upper circuit with the 1-year highest volume

The stock is up by 40.33 per cent from its 52-week low of Rs 127.70 per share and has given multibagger returns of 890 per cent in 5 years. 

On Thursday, shares of Share India Securities Ltd rocketed 20 per cent Upper Circuit to Rs 179.20 per share from its previous closing of Rs 149.35 per share. The shares of the company saw a Spurt in Volume by more than 28 times on the BSE with the highest volume in the last 1 year.

Share India Securities Ltd. (BSE: 540725, NSE: SHAREINDIA), a prominent tech-based financial services provider, announced that its Finance Committee, at a meeting, has approved the issuance of up to 5,000 secured, rated, listed, Taxable, transferable, redeemable Non-Convertible Debentures (NCDs). This private placement aims to raise up to Rs 50,00,00,000 (Rs 50 crore) as part of a larger Board-approved plan to raise up to Rs 3,00,00,00,000 through debt securities. Each NCD has a face value of Rs 1,00,000 and will be listed on the Wholesale Debt Market (WDM) segment of the BSE Limited. The debentures have a tenure of 712 days from the Deemed Date of Allotment.

The NCDs offer an attractive annual coupon rate of 10.50 per cent, payable monthly, while the principal will be repaid in quarterly instalments. To secure the issue, a first-ranking pari passu charge will be created over assets, including MTF loan receivables, securities for trade, and current assets (excluding encumbered cash), with a minimum cover of 1.5 times the outstanding amount, along with a personal guarantee from the promoters. Furthermore, in case of a delay in interest or principal payment for more than three months, an additional 2 per cent per annum penalty coupon rate will be applied from the date of default until rectification.

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About the Company

Share India Securities Ltd is a financial service provider that uses technology to offer customised capital market tech-based solutions to clients. It offers financial products & personalised services, including equity broking, currency & commodity derivatives, depository participant services, Mutual Fund advisory and distributorship, etc to retail and corporate clients.

Share India Securities has a market cap of Rs 3,800 crore. The stock has a PE of 13x whereas the sectoral PE is 17x and a ROE of 16 per cent. The stock is up by 40.33 per cent from its 52-week low of Rs 127.70 per share and has given multibagger returns of 890 per cent in 3 years.

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