During Thursday’s trading session, the shares of India’s biggest organisation for the recovery of unclaimed investments, money, and assets hit a 20 percent upper circuit at Rs. 69.86 on BSE, after its subsidiary secured a contract worth Rs. 1,240 crores.
With a market cap of Rs. 85.7 crores, the shares of Share Samadhan Limited opened in the green at Rs. 69.86, compared to its previous closing price of Rs. 58.22.
What’s the news:
Nyaya Mitra Limited (NML), a subsidiary of Share Samadhan Limited (SSL), has secured a contract valued at Rs. 1,240 crores.
According to the latest regulatory filings with the BSE, the contract is secured for the litigation funding consulting services.
About Share Samadhan IPO:
Share Samadhan’s initial public offerings (IPO), which had opened for subscription on 9th September, was subscribed over 13.63 times on the last day of bidding. The small and medium enterprise (SME) IPO received 3,17,39,200 bids against the offered 23,28,000.
For this IPO, Share Samadhan allocated 50 percent of its net offer to qualified institutional bidders (QIBs), 15 percent to non-institutional investors (NIIs), and 35 percent to retail investors for its IPO.
Retail investors demonstrated the maximum interest, with their portion being subscribed 18.04 times on the last day. The NII category received 16.87 subscriptions, while the QIB portion was subscribed 2.66 times on 11th September.
The price band for the Share Samadhan IPO was set between Rs. 70 and Rs. 74 per share, with a face value of Rs. 10 per share.
Financials:
The company experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 250 percent from Rs. 2.8 crores in FY23 to Rs. 9.8 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 0.5 crores to Rs. 4 crores, indicating a rise of nearly 700 percent YoY.
About the company:
Share Samadhan Limited operates in the financial services sector and is India’s biggest organisation for the recovery of unclaimed investments, money, and assets.
The company provides a wide range of services aimed at helping clients efficiently protect and retrieve their investments/money.
These services include Investment retrieval through our company, Wealth Protection through Wealth Samadhan Private Limited, and litigation funding solutions through its subsidiary Nyaya Mitra Limited, thereby assisting in resolving various disputes regarding blocked investments in any asset class largely on a success fees model.
Written by Shivani Singh
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.
