May 28, 2024

235% return in six-month: Multibagger NBFC stock Mufin Green Finance declares ₹140 crore fundraise

Mufin Green Finance shares are one of the multibagger stocks that Indian stock market has delivered in recent few months. This non banking financial company or NBFC stock has risen from around 49 apiece levels to 163 per share levels, ascending to the tune of 235 per cent in this time. This multibagger stock has delivered stellar 45 per cent return to its shareholders as well.

This multibagger NBFC stock is one of the newsmaker stock these days for raising funds via allotment of warrants convertible in to equal number of equities. As per its latest exchange filing, the NBFC company has allotted warrants to raise funds to the tune of over 140 crore. Warrants have been issued at a price of 55 per equity share whereas Mufin Green share price today is around 163 per share, which means the warrants have been allotted at a discount of 108 per share.

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Mufin Green Finance fundraise

Mufin Green Finance informed Indian stock market exchanges about the move saying, “Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and in—principle approvals received from the BSE Limited and National Stock Exchange of India Ltd on November 13, 2023 and December 14, 2023, respectively, we wish to inform you that, the Committee of Directors (“For Preferential Issue”) of the Mufin Green Finance Limited (“the Company”) in their meeting held on today i.e. December 27, 2023 had approved the allotment of 2,55,00,000 Warrants convertible into Equity Shares of the Company, in one or more tranches, having face value of 1/- each, at a price of Rs. 55/- per Equity Share (including premium of Rs. 54/- each), aggregating to Rs. 1,40,25,00,000/- (towards 25% of the issue price paid by the allottees), from the below mentioned allottee(s).”

This multibagger stock is available for trade on both NSE and BSE. Its market cap is 2,455 crore. Current trade volume on NSE is around 3.29 lakh and around 40 minutes of trade is still left on last session of the year 2023. Its 52-week high is 184.05 while its 52-week low is 34.23 apiece.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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