Ashish Kacholia portfolio: Chemical stock allots 9.70 lakh equities on preferential basis; shares gain
fineotex chemical ashish kacholia portfolio chemical stock allots 9.70 lakh equities on preferential basis; shares gain
Ashish Kacholia Portfolio Stock: Fineotex Chemical shares today gained in line with gains in the domestic equity market. The smallcap stock opened 1 per cent higher at Rs 363 apiece on NSE versus the previous closing of Rs 360.30.
The counter went on to hit a high of Rs 380.85, up 5 per cent. Around 3 PM, the smallcap stock traded firmly in the green near day's high, quoting at Rs 376 apiece. More than 9 lakh shares of the company changed hands around the same time.
Fineotex Chemical shares are gaining for the last two sessions. The scrip is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Fineotex Chemical Preferential Allotment
The company has announced that that board has approved the allotment of 9,70,000 equity shares with a face value of Rs 2 each for Rs 346 per share (Rs 33,56,20,000 in total) on a preferential basis to non-promoter category entities.
Additionally, the board allotted 26,26,600 convertible warrants at Rs 346 each (including a Rs 86.50 warrant subscription price and a Rs 259.50 warrant exercise price) for a total of Rs 90,88,03,600 to both promoter and non-promoter categories.
Each warrant can be converted into a company equity share with a face value of Rs 2 upon paying the remaining Rs 259.50 per warrant within 18 months of allotment.
With this, the company's issued, subscribed and paid-up share capital has increased from Rs 11,07,64,989 to Rs 11,17,34,989.
Ashish Kacholia Stake In Fineotex Chemical
Fineotex Chemical is backed by ace investor Ashish Kacholia. According to data rooted from trendlyne, Kacholia owns 2.8 per cent stake (3,135,568 equity shares) in the company as on March 2024 quarter. The total value of his investment is Rs 118.1 crore.
Fineotex Chemical Share Price History
Fineotex Chemical shares have delivered a positive return of 30 per cent in the last one year. In two years, the chemical stock has more than doubled investors money, delivering a return of 107 per cent. In the last three and five years, the counter has skyrocketed 349 per cent and 948 per cent, respectively.
Fineotex Chemical shares have made its investors richer by a massive 6,905 per cent in the last 10 years.
Fineotex Chemical commands a market cap of Rs 4,159.23 crore,a s per BSE website.
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