Shares of Vasa Denticity gained 16.8 percent on the NSE SME exchange to reach an all-time high of ₹ 382.95 apiece after ace investor Ashish Kacholia invested in the company. At 12:58 PM, its shares were trading at ₹ 374.00 apiece, up 14.08 percent.
Vasa Denticity is engaged in the business of marketing and distribution of a comprehensive portfolio of dental products, through its online portal Dentalkart.com. It also operates through its website and app. The company has a portfolio of more than 30 owned brands which are manufactured or procured from third parties based on specifications.
Ace investor Ashish Kacholia bought 4.39 lakh shares in the dental products supplier via open market transactions at an average price of ₹ 302.59 apiece, taking the transaction value to ₹ 13.28 crores.
On the other hand, anchor investors Founders Collective Fund sold 1.2 lakh equity shares in Vasa at an average price of ₹ 301 per share, and Maven India Fund offloaded 85,000 shares at an average price of ₹ 303.71 per share. They bought the shares at ₹ 128 per share in May 2023, and recently booked profits.
Vasa Denticity got listed on the exchanges only in June 2023. Its initial public offer (IPO was subscribed 48.67 times and the issue consisted of 42,24,000 equity shares. The shares were issued in a price band of ₹ 121 to ₹ 128 per share and got listed at ₹ 211 apiece, at a premium of 65 percent. Thereafter, its share price continued to increase and delivered multibagger returns of 200 percent as it reached its life-high price.
With a market capitalization of ₹ 525 crores, Vasa Denticity is a micro-cap company. It has a very high return on equity of 163.80 percent and an ideal debt-to-equity ratio of 0.24. The company is yet to post its results for FY23. However, it reported a 1540 percent increase in its net profit to ₹ 5.41 crores in FY22, as compared to ₹ 0.33 crores in FY21. Its revenue increased by 92 percent to ₹ 76.92 crores in FY22 from ₹ 40.07 crores in FY21.
Written By Simran Bafna
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