Small-cap stock below ₹200: Mauritius-based FIIs buy stake in multibagger stock Sprayking Agro Equipment
Small-cap stock below ₹200: Global investment firms Nexpact Limited and AG Dynamic Fund Limited have made investment in Nexpact Limited and AG Dynamic Fund Limited — a small-cap stock that has delivered multibagger return to its long term positional shareholders in year-to-date (YTD) time. These Mauritius-based foreign institutional investors (FIIs) bought stake in the company through preferential issue offered by the small-cap company Sprayking Agro Equipment Ltd.
The small-cap company informed about the Mauritius-based FIIs' investment in an exchange communication citing, "In pursuance of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform all our stakeholders that board of Directors of our Company has approved raising of funds Issuance of total 8, 40,000 Convertible Warrants on a Preferential Basis at price of ₹207 per warrant to foreign investors namely Nexpact Limited and AG Dynamic Fund Limited subject to relevant regulatory approvals." While allotting the preferential issues to these Mauritius-based FIIs, the Indian small-cap company charged a premium of 9 per cent to these global investment firms. The Company had received interest from multiple investors including but not limited to HNIs, Domestic as well as foreign investors, after discussion the Company has decided to give stake to foreign investors who can bring value in the Company and motivates the vision of the Company.
The funds raised will play a pivotal role in advancing our mission to become one of leading manufacturer of brass components and parts, including fittings, forging equipment, transformer parts, and other customized brass components. The Company has recently acquired its new
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