A micro-cap stock surged 20 percent hitting the upper circuit after the company revealed plans to increase its authorized share capital from Rs.400 crore to Rs.900 crore, pending shareholder approval. Additionally, the company plans to issue fully convertible warrants to non-promoter public investors.
Price Variation
During Monday’s trading session, shares of Heads UP Ventures Ltd hit a 20 percent upper circuit to Rs.11.05 per share, rising from its previous close of Rs.9.21 apiece.
What happened
Heads UP Ventures Ltd has proposed an increase in its authorized share capital from Rs.400 crore to Rs.900 crore, subject to approval from its shareholders. This will involve amending the Memorandum and Articles of Association to accommodate the expanded capital structure.
To further strengthen its financial position, the company plans to raise up to Rs.99.63 crore by issuing 6.64 crore fully convertible warrants to non-promoter public investors at an issue price of Rs.15 per warrant. This move is expected to boost the company’s capital base and fund its growth initiatives.
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Business Operations
Heads UP Ventures Ltd operates as an integrated business, involved in the design, development, production, marketing, and distribution of high-fashion products. Its diverse product range includes shirts, t-shirts, jackets, hoodies, sweatshirts, caps, belts, bags, and flip-flops. In 2022, the company strengthened its portfolio by acquiring the brands and trademarks “HUP” and “Device of Turtle,” aiming to build a creative, gender-inclusive fashion community.
Financial Performance
Turning towards the financials of the company, Heads UP Ventures Ltd reported Q3 FY25 total revenue of Rs.31.34 lakhs, rising exceptionally by 1,733 percent from Rs.1.71 lakhs in the same quarter last year. Moreover, Profit After Tax (PAT) improved to Rs.25.79 lakhs, from net loss of Rs.72.26 lakhs in the same period.
Company Profile
Heads UP Ventures Ltd, formerly known as The Mandhana Retail Ventures Limited, is an Indian retail company specializing in high-fashion apparel and accessories. Established in 2011 and headquartered in Mumbai, Maharashtra, the company operates both domestically and internationally, offering a diverse range of products
Written by – Siddesh S Raskar
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