Small-cap stock below ₹50 hits upper circuit following stock market rally
Small-cap stock below ₹ 50 Sampre Nutrition announced its plans for a strategic fundraising initiative to drive growth and expansion.
As per Sampre Nutrition media release highlights, the board is to consider multiple fundraising paths, including QIP, preferential issue, and others
The company is expected to host a Board of Directors meeting soon to allow shareholders to review and approve plans for raising money through the issuing of suitable securities, as was communicated to the BSE earlier this year. Leading candy manufacturer Sampre Nutritions Ltd. has suggested a fund-raising campaign using a variety of strategies, including preferential issuance.
The objective is to strengthen the company's financial structure and support its ongoing expansion and diversification efforts.
Sampre Nutritions management in a statement, said that "This is an important step in our journey as we explore ways to expand operations, extend market penetration, and invest in long-term growth. The fundraising initiative highlights our commitment towards building a stronger, more resilient future at Sampre Nutritions Limited"
As part of the process, the Board will also consider convening an Extraordinary General Meeting (EGM) or initiating a postal ballot to seek shareholder approval
A year back, in the month of April 2024, the company successfully allotted 17 lakh equity shares at ₹ 36 each following the conversion of warrants issued on a preferential basis.
The Board also had approved the conversion of 85 Foreign Currency Convertible Bonds (FCCBs), which were initially issued on June 28, 2024, into equity shares on October 14, 2024.
Small-cap stock below ₹ 50: Sampre Nutrition share price opened at ₹ 30.60, 2% higher than the previous day's closing price of ₹ 30. Since ₹ 30.60 was the upper price band, the Sampre Nutrition share price was locked in an upper circuit.
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