Shares of an NBFC rallied 20 percent to reach a record high of ₹ 68.80 apiece on the Bombay Stock Exchange (BSE). Its shares were locked in an upper circuit after it announced that its board is looking to raise funds. 

Mufin Green Finance said in an exchange filing that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, September 28, 2023, to consider a proposal for raising funds by way of equity shares, convertible securities of any other description or warrants or debt securities.

This issue could happen through private placement/preferential issue/qualified institutions placement (QIP) or any other method. 

Muffin Green Finance is a non-banking financial company (NBFC) focused on the business of investment and providing loans. The company invests in stocks, bonds, securities, and provides loans of various kinds. 

The company’s share price increased by 198.22 percent in the past year to deliver multibagger returns. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 2.98 lakhs today! 

With a market capitalization of ₹ 866 crores, Mufin Green Finance is a micro-cap company. It has a low return on equity of 4.25 percent. Its shares were trading at a price-to-earnings ratio (P/E) of 83.10, which is higher than the industry P/E of 22.19, indicating that the stock might be overvalued as compared to its peers. Its promoters hold a 58.18 percent stake in it, followed by retail investors with 41.82 percent. 

Written by Simran Bafna 


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.