Shares of Golden Legend Leasing and Finance will be in focus on Monday.
The reason is a major decision taken by the company’s board regarding the allotment of convertible warrants.
On Friday, the stock closed 7.60% higher at ₹8.78 on BSE, showing strong movement ahead of this development.
What Is the Latest Update?
The company has approved the allotment of 6.63 crore convertible warrants to investors in the non-promoter category.
Through this allotment, the company has raised around ₹21.49 crore.
Convertible warrants give investors the right to convert them into equity shares in the future.
At What Price Were Warrants Issued?
Each warrant has been issued at ₹12.96 per share, which includes a premium of ₹2.96.
This means investors can convert each warrant into one equity share at this price.
A total of 23 non-promoter investors have received these warrants.
Spunwell Technology Pvt Ltd received the highest allotment
Mariango Trading Pvt Ltd and Ultimate Annex Trading Pvt Ltd also received significant shares
How Has the Stock Performed?
The stock has shown mixed performance recently.
Up 5.38% in the last one week
Down 23.12% so far this year
Up 11.85% over the past one year
The stock’s 52-week high is ₹16.38, while the low is ₹7.20.
The company currently has a market cap of around ₹16.86 crore.
What Should Investors Keep in Mind?
Such corporate actions can increase interest in a stock, especially in the short term.
However, penny stocks are highly volatile and risky.
Investors should be cautious and take expert advice before making any decisions.
