{"id":77351,"date":"2022-12-12T18:20:00","date_gmt":"2022-12-12T12:50:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=77351"},"modified":"2022-12-12T19:02:14","modified_gmt":"2022-12-12T13:32:14","slug":"multibagger-stock-that-gave-249-returns-approves-rights-issue-to-fund-expansion-plan","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/multibagger-stock-that-gave-249-returns-approves-rights-issue-to-fund-expansion-plan\/","title":{"rendered":"Multibagger stock that gave 249% returns approves rights issue to fund expansion plan\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1696647786\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Som Distilleries and Breweries Ltd. approved a proposal to set up a new canning facility and expand its existing utilities at Bhopal with an investment of \u20b9 100 crores. The board will fund the expansion plan with the help of funds raised through a rights issue. In addition, it will also&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1572413612\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>raise funds through the issue of convertible equity warrants to the promoters and promoter group on a preferential basis by issuing up to 65 lakh warrants.&nbsp;<\/p><p>The company is executing an expansion plan of approximately \u20b9100 crores for setting up a new canning facility and other utilities at its Bhopal Plant. In addition, it is expanding the brewing facility in Hasan Plant of its WOS i.e. Woodpecker Distilleries and Breweries Private Limited. It expects to complete the expansion in time so as to prepare for the summer season.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Rights issue&nbsp;<\/strong><\/h4><p>The Board of Som Distilleries has considered and approved the proposal of raising funds through a rights issue. In addition, it has approved the offer and issuance of fully paid-up equity shares of \u20b9 5 each aggregating to \u20b9 49.00 crores. The record date, price and related matters are yet to be finalized.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4029727750\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\"><strong>Equity Warrants&nbsp;<\/strong><\/h4><p>The company\u2019s board has approved the raising of funds through convertible equity warrants to the promoters\/ promoter group on a preferential basis by issuing up to 65 lakh warrants convertible in one or more tranches to equity shares of \u20b95\/- each of the Company at a price of \u20b9142\/- (including premium of \u20b9137\/-) for each Warrant.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Preferential warrants&nbsp;<\/strong><\/h4><p>The Board of Som Distilleries has approved the allotment of 12,77,777 equity shares of \u20b9 5 each, post the conversion of preferential warrants to three non-promoter entities (M\/s Lakeside Retail Private Limited and M\/s Icy Blast Retails Private Limited will receive 5,00,000 equity shares each and M\/s Newport Retails LLP \u2013 2,77,777 equity shares).&nbsp;<\/p><h4 class=\"wp-block-heading\" id=\"h-price-movement\"><strong>Price Movement&nbsp;<\/strong><\/h4><p>The shares of Som Distilleries closed at \u20b9 138.55 apiece, down 4.81% on the National Stock Exchange (NSE), down 4.82%. However, in the past year, the shares gave multibagger returns of 248.82%. Therefore, if an investor would have invested \u20b9 1 lakh in the company\u2019s shares a year ago, the value of their holdings would have been \u20b9 3.49 lakhs today!&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2296298755\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Som Distilleries and Breweries Ltd. approved a proposal to set up a new canning facility and expand its existing utilities at Bhopal with an investment of \u20b9 100 crores. The board will fund the expansion plan with the help of funds raised through a rights issue. In addition, it will also&nbsp; raise funds through the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-77351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multibagger stock that gave 249% returns approves rights issue to fund expansion plan\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/multibagger-stock-that-gave-249-returns-approves-rights-issue-to-fund-expansion-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multibagger stock that gave 249% returns approves rights issue to fund expansion plan\u00a0\" \/>\n<meta property=\"og:description\" content=\"Som Distilleries and Breweries Ltd. approved a proposal to set up a new canning facility and expand its existing utilities at Bhopal with an investment of \u20b9 100 crores. 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