Multibagger Stock: Raghuveer International Pvt Ltd, the promoter group of electric vehicle (EV) maker Mercury EV-Tech Ltd, has increased its stake. small-cap stocks on Friday, January 6, according to BSE filings.
According to filing data, the promoter acquired 14.75 lakh equity shares of Rs 14,75,000 each carrying voting rights and 53,00,000 or 53 lakh share warrants through preferential route. allotment Process on Monday.
The company also disclosed that before the acquisition, Raghuveer International Pvt Ltd held 22.92 per cent of the total shares or about 4.02 crore shares. After preferential allotment, the promoter’s stake has increased to 24.74 percent or about 4.7 crore shares.
“Allocation of new equity Shares which will rank at par (same) as the existing equity shares,” the company said in an exchange filing.
Shares of Mercury EV-Tech Limited closed with a decline of 4.99 percent. 91.33 compared to after Monday’s market session last time 96.13 stock market to close. The company announced the acquisition of the stake by the promoter after market hours on January 6.
The total diluted share capital of the company is 23.52 crore, face value of each share Rs 1.
About Mercury EV-Tech
Mercury EV-Tech Limited is an electric vehicle manufacturer that provides end-to-end solutions for EV needs. The company’s product range includes two-wheelers, buses, loaders and passenger vehicles as well as other components such as batteries, chassis and motor controllers. According to the website, the company also operates a CED coating plant.
The company operates its battery unit from its Vadodara plant in Gujarat, its autoparts unit from its Chhapi plant in Uttar Pradesh, and its two research and development centres, one from Vadodara and the other from Maihar in Madhya Pradesh.
In the battery manufacturing sector, the company manufactures lithium-ion batteries under its subsidiary Powermetz Energy. According to the company website, the company has a presence in more than 20 cities and to date, they have more than 15,000 customers.
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