Micro Cap stock engaged in the ideation, conceptualization, designing, manufacturing & marketing of promotional products, gift items and many more hit a 5 percent upper circuit following fundraising plans.
With a market capitalization of Rs. 126 Crores, the shares of Pramara Promotions Limited hit a 5 percent upper circuit at Rs. 139.30 from its previous day’s close previous day’s close price of Rs. 132.70.
The Board of Directors of Pramara Promotions Limited has approved raising funds aggregating upto Rs. 25 Crores by creating, issuing, offering, and alloting up to 20,32,254 Equity Shares having a face value of Rs. 10 at a price of Rs. 123 per share including a premium of Rs. 113 per share in one or more tranches.
It also includes raising funds aggregating upto Rs. 7.38 Crores by creating, issuing, offering, and alloting up to 6,00,000 equity warrants i.e. Fully Convertible Warrants at a price of Rs. 123.
Pramara Promotions Limited is engaged in the business of ideation, conceptualization, designing, manufacturing & marketing of promotional products, gift items, and many more.
Its revenue from operations grew 1.85 percent from Rs. 49.16 Crores in FY22 to Rs. 50.06 Crores in FY23, accompanied by increasing profits of Rs. 1.35 Crore to Rs. 2.23 Crore.
It has reported a return on equity (ROE) of 15 percent and a return on capital employed (ROCE) of 13.9 percent, it is making decent returns on its equity and capital employed as the growth in its financials are going down.
Written by: Bharath K.S
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