Small-cap stock below ₹50 edges higher after THIS rights issue update. Details here
Small-cap stock under ₹ 50: Shares of Nakoda Group of Industries, engaged in the packaged foods segment, rose nearly 2% on Monday, April 28, after the company post-market hours on Friday, announced the second and final call on rights issue along with the record date.
The company in a filing said that the Rights Issue Committee of the Board of Directors of the company on Friday approved the making of the second and final call of ₹ 10 on the outstanding 49,54,654 partly paid-up equity shares of the company, having a face value ₹ 10/- each with ₹ 8.75/- paid-up (Rights Equity Share(s)) which were allotted on July 6, 2024, on a right basis.
The company added that out of the ₹ 10 final call made, ₹ 4 will be adjusted towards face value and ₹ 6 will be adjusted towards securities premium.
Nakoda Group of Industries, further informed that it has fixed Friday, May 9, 2025, as the record date to determine the holders of rights equity shares to whom the call notice for the second and final call will be sent.
'In terms of Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, this is to further inform that the Record Date for the purpose of determining the holders of Rights Equity Shares to whom the call notice for the Second and final call will be sent is Friday, May 09, 2025,' the small-cap company said in a filing.
Following the announcement, Nakoda Group of Industries share price was trading higher. The small-cap stock, with a market capitalisation of just ₹ 59 crore, opened at ₹ 32.68 apiece, slightly higher than its previous closing price of ₹ 32.33.
Thereafter, the stock extended gains and hit the day's high of ₹ 32.89, up 1.73% on the BSE. The day's low for Nakoda Group of Industries stock stood at ₹ 32.49.
Nakoda Group of Industries stock has fared poorly off late, shedding 29% in the past one year and 12% in the last six months. However, on a five-year basis, the small-cap stock below ₹ 50, has surged 139%.
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