2:1 Bonus Shares, 1:2 Stock Split: NBFC Co Approves Conversion Of 8.75 Lakh Warrant

The Committee of Directors of small cap NBFC Sector company Mufin Green Finance on February 19, 2024 considered and approved the conversion of 8,75,000 warrants into 8,75,000 equity shares of face value of Re 1/- each on preferential basis. Mufin Green Finance shares gained 0.53% in trade today to 236.15 apiece. The scrip rallied 105% in last 3-months and soared 442% in last 6-months. Check details below:

Mufin Green Finance Gives Nod To Conversion of Warrant: As per the regulatory filing of the company dated Feb 19, 2024, "we wish to inform you that the Committee of Directors ("For Preferential Issue") of the Mufin Green Finance Limited ("the Company") in their meeting held today i.e. February 19, 2024, considered and approved the conversion of 8,75,000 (Eight Lakh Seventy Five Thousand) convertible warrants into 8,75,000 (Eight Lakh Seventy Five Thousand) equity shares of face value of Rs. 1/- each, on preferential basis, upon receipt of an amount aggregating to Rs. 3,60,93,750/- (Rupees Three Crore Sixty Lakh Ninety Three Thousand Seven Hundred Fifty only) at the rate of Rs. 41.25 (Rupees Forty One and Paise Twenty Five Only) per warrant (being 75% of the issue price per warrant) from the allottees pursuant to the exercise of their rights of conversion into equity shares inaccordance with the provisions of SEBI (ICDR) Regulations, 2018 and list of allottees is enclosed as Annexure-I."

Mufin Green Finance Shares Performance & Return: The 52-week high price of Mufin Green Finance shares on BSE is Rs 273.10 and 52-week low price is Rs 34.19 apiece, respectively. The company has a market capitalisation of Rs 3,565.75 crore. It has a market capitalisation of Rs 3,558.20 crore. Mufin Green Finance shares zoomed 461% in last 1-year and gained 2263% in last 2-years. In last 3-years, Mufin Green Finance shares rallied 5865%.

Mufin Green Finance Declares Q3 Results: The company for the quarter ended December 2023 declared its standalone total revenue from operations at Rs 27.17 crore, up 155.12% as against Rs 10.65 crore reported in the corresponding quarter of last year. Mufin declared total income for the December 2023 quarter at Rs 27.21 crore, up 154.78% from Rs 10.68 crore declared in December 2022 quarter. Its net profit zoomed to Rs 4.55 crore, up 98.69% for December 2023 quarter as against Rs 2.29 crore reported in the similar quarter of preceding fiscal.Meanwhile, its EPS declared at Re 0.30 for December 2023 quarter from Re 0.15 in December 2022.

Mufin Green's Bonus Issue In 2023: Mufin Green Finance gave 1 bonus since July 7, 2023. The last Bonus that Mufin Green Finance declared was in the ratio 2:1 with ex-date of July 7, 2023, according to Trendlyne.

Mufin Green's Stock Split In 2023: As per the BSE filing of the company, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company has passed the necessary Resolution through Circulation on March 29, 2023, inter-alia, approved and fixed the "Record Date" on Saturday, April 15, 2023 for the purpose of ascertaining the name of shareholders entitled for Sub-division/Split of every 1 (one) Equity Share of the Company having face value of Rs. 2/- (Rupees Two) each fully paid up into 2 (two) Equity Shares of face value of Rs. 1/- (Rupees One) each."

About: Mufin Green Finance is a pioneer in climate financing solutions in India. It is contributing to the EV ecosystem of the country by providing loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries. It has disbursed more than INR 300 crores till date towards electric vehicles. This has not only impacted the carbon footprint, but has also resulted in financial inclusivity, more income generation, and women empowerment, according to its official website.

Disclaimer:

The stock just highlights the Q3 results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.