This technological service firm’s shares rose 5 percent to ₹982 per share on Thursday after raising ₹70 crores through preferential allotment of equity shares and warrants.
On Thursday’s early trade, ASM Technologies Ltd. hit a 5 percent upper circuit to ₹982 apiece on the exchange, and the company has a market capitalization of ₹1,078 crores.
ASM Technologies Limited, a pioneer in design-led manufacturing in the semiconductor and automotive industries, announced the preferential allotment of equity shares and warrants amounting to ₹170.1 crore. Of this amount, ₹70 crores were raised on March 20th, with the remaining ₹100.1 crores slated to be received over a span of 18 months.
The fundraising was spearheaded by ace investor Mukul Agrawal. ASM intends to utilize the raised capital for general corporate needs, investments in subsidiaries, joint ventures, associates, and other permissible purposes as dictated by relevant laws and regulations.Company mentioned in its filing.
ASM Technologies is engaged in the business of providing consulting and product development services in the areas of engineering services and product R&D.
ASM Digital Engineering is an engineering and digital services company that develops products based on customer requirements, emphasising reliability and productivity enhancement.
ASM Technologies Ltd operational revenue has increased by 4 percent year on year, from ₹54 crore in Q3FY23 to ₹56 crore in Q3FY24. During the same period, net profit declined from ₹ 1.11 crore to a loss of ₹ 0.72 crore.
The company has a global presence in the USA, Singapore, the UK, Canada, Mexico and Japan.
As of the recent shareholding pattern, the company promoter holds a 62.79 percent stake, and retail investors hold a 37.19 percent stake in the company.
ASM Technologies shares have gained multibagger returns of 103 percent in the last six months and 148 percent in the last 12 months. For example, a shareholder investment of ₹1 lakh in the company a year ago, would be worth ₹2.48 lakh.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
