Stocks of this Artificial Intelligence (AI) company opened their Thursday trading session flat as the company will issue 69 lakh equity shares amounting to nearly 5 percent stake on a preferential basis to the Singapore-based entity.
With a market capitalization of Rs. 13,660 cr, shares of Affle India opened their today’s trading session flat at Rs. 1120 apiece and closed the day at Rs. 1,016.
According to reports on Thursday, the company has approved the issuance of preferential shares to Gamnat Pte. Ltd, a subsidiary of the Ministry for Finance, Government of Singapore.
The company will issue 69 lakh equity shares amounting to nearly 5 percent stake on a preferential basis at Rs 1,085 apiece to the Singapore-based entity. The issuance will be done at a 6 percent premium. The total deal value from the preferential share issue is approximately Rs. 750 cr.
Digging into the financials of the company, the revenue of the company increased from Rs. 355.83 cr during the March quarter to Rs. 406.58 cr during the June quarter. In addition to this, the net profit of the company also increased from Rs. 62.4 cr to Rs. 66.18 cr during the same period.
Coming onto the important financial ratios, the return on equity was at 18.67 percent in FY 22-23 and the return on capital employed was at 20.24 percent. The company has managed to decrease its debt to equity ratio from 0.13 times in FY21-22 to 0.07 times during FY22-23.
According to the latest shareholding pattern, Promoters have a 59.89 percent stake in the company, the public has taken 16.17 percent holdings, FIIs have 9.66 percent shares in the company, and the remaining 14.28 percent is with DIIs.
Affle is a global technology company with a proprietary consumer intelligence platform that transforms ads into recommendations helping marketers to effectively identify, engage, acquire, and drive transactions with their potential and existing users.
Written by Vaibhav Patil
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