Multibagger Stock: Shares of aerospace and defense sector giant Apollo Micro Systems have given strong returns to investors. It has jumped over 94 per cent in one year. When the company announced the issuance of warrants of Rs 185 crore, its shares took wings. However, it had a bullish trend even with warrants and in the last two and a half years it has increased investor capital by more than five times and proved to be a multibagger.
The board of Apollo Microsystems in a meeting on Friday, October 14, approved the issuance of preferential warrants worth Rs 185 crore. Due to this, it jumped up to 14 per cent on Friday and reached a one-year record high of Rs 247.45 on the BSE. However, after that due to profit-booking, it slipped 8.92 percent and closed at Rs 235.70 (Apollo Micro Systems Share Price).
Warrants will be issued at this price
According to the information sent by the company to the stock exchanges, the Board of Directors has approved issuance of warrants to the promoters and non-promoters on preferential basis. According to the information given by the company, the board has approved the issuance of a total of 1,01,00,070 warrants at the rate of Rs 183.30.
However, this proposal is yet to get the approval of the shareholders, for which the Extraordinary General Meeting (EGM) has been called on 12 November. According to the proposal, 46.2 lakh warrants will be issued to the promoter and MD Karunakar Reddy Baddam of the company, 19 lakh to Nextpact of Mauritius and 1.2 million to Maybank Securities.
Airfare increased by 40% before Diwali, but bookings jumped by 124%, this place became the top destination
Shares become multibagger, up 450% in two and a half years
Shares of Apollo Micro Systems hit a one-year record high on Friday for the third consecutive day. Its prices have strengthened by more than 94 percent in one year, that is, investors’ money has come close to doubling in just one year. After Corona, there has been a great rise in its shares. It was at a price of Rs 44.45 on 27 March 2020, which has now increased to Rs 245 i.e. investors have got about 450 percent return in two and a half years.
Disclaimer: The information provided here is based on share performance. It is important to mention that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. It is never advised to invest money here on behalf of Moneycontrol.