The share price of this leading pharmaceutical company hit a 2 percent upper circuit to a 52-week high price of Rs 176.60 per share after a marquee investor Ashish Kacholia bought a stake in the company.
Sanjivani Paranteral Ltd is a micro-cap stock, with a market capitalization of Rs 177 crore.
The company’s board of directors approved the issuing of 6,00,000 convertible warrants to promoters Mr. Ashwani Khemka and Mr. Ashish Kacholia. The deal was priced at Rs 135.10 per warrant, and provides for a 25% upfront payment, with the remaining 75% payable upon conversion into equity shares in one or more tranches within a maximum of 18 months from the date of Warrant issuance.
To fortify its financial standing, the board also approved the issuance of preferential allotment of 16,86,000 equity shares at Rs 135.10 per share, amounting to Rs 22.77 crores. Notable investors in this round include India Bridge Fund, Mr. Ashish Kacholia, and Mrs. Monika Garware.
Marquee investor Ashish Kacholia purchased 3,70,000 equity shares in the company, equivalent to a 3.01 percent stake. As per reports.
Sanjivani Paranteral shares have delivered a multibagger return of 172 percent in the last six months and 351 percent in a year. A company shareholder investment of Rs 1 lakh would be worth Rs 4.51 crore in the year.
The company’s revenue has increased by 68 percent yearly, from Rs 8.33 crore in Q2FY23 to Rs 14 crore in Q2FY24. During the same timeframe, Net profit has risen by 122 percent from Rs 0.77 crore to Rs 1.71 crore.
Sanjivani Paranteral is engaged in the business of manufacturing and export of pharmaceutical products.
The company caters to major therapeutic/product areas encompassing CNS, CVS, Antibiotics, Gastroenterological, Anti-Diabetics, and Anti-Allergic.
In the second quarter of FY24, the company received 80 percent revenue from international clients, with a presence in over 25 countries.
In the recent quarter, Sanjivani Paranteral has entered into a partnership with a reputable organisation Aievia Healthcare in Prague, Czech Republic to launch a new project that aims to cater to the requirements of the Pharma markets of the European Union.
Written by Omkar Chitnis
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