FPI-Backed Penny Stock Below Rs 5 Declares Fundraising Via Convertible Warrants; Do You Own?

Evexia Lifecare's stock saw a buying trend on Monday after beginning the day at Rs 3.76 and rising to an intraday high of Rs 3.81. The Company's Board of Directors considered and approved the preferential issuance of convertible warrants on September 20, 2024, among other things, during the recent surge in stock price.

The Board of Directors considered and approved "To issue upto24,00,00,000 Convertible Warrants, of the company, at a price of Rs. 3.60/- per Warrant each convertible into, or exchangeable for, 1 (one) fully paid-up equity share of the Company having face value of Re.1/- (Rupee One Only) each at a premium of Rs. 2.60/- per share aggregating to not more than Rs.86,40,00,000 /- (RupeesEighty Six Crores Forty Lakhsonly) to the proposed allottees," said the company in a stock exchange filing.

The proposed allottees are Raghuvir International Pvt Ltd and Shree Saibaba Exim Pvt Ltd.

Recently in a Board Meeting held on September 16, 2024, Evexia Lifecare announced the evaluation of various options available to the company to raise funds and thereafter the Board decided to differ the fundraising exercise to further explore the options with prospective investors and also to re-evaluate the available options, as per a regulatory filing.

Regarding the company's financial matters, it recorded net sales of Rs. 20.42 crore for the quarter that ended in June 2024, a 45.65% increase from Rs. 14.02 crore for the quarter that ended in June 2023. Its net profit climbed by 253.68% from Rs. 0.07 crore in Q1FY24 to Rs. 0.26 crore in Q1FY25. EBITDA increased 130% from Rs. 0.20 crore in June 2023 to Rs. 0.46 crore in June 2024. From Rs. 0.01 in June 2023 to Rs. 0.03 in June 2024, Evexia Lifecare's EPS has grown.

Evexia Lifecare has a varied shareholding pattern as available on the stock exchange. As of right now, foreign portfolio investors (FPIs) own 1.03 percent of the company's shares. The stake held by banks and mutual funds are 0.13 percent and 0.4%, respectively. According to the most recent statistics from the June 2024 quarter, the promoter group holds a 6.29 percent stake in the firm, while public shareholders own 93.71% of its shares.

Evexia Lifecare, which climbed from Rs 1.74 to the current market price of Rs 3.70, represents a multibagger return of 112.64%, making it one of the multibagger penny stocks of D-Street. On a year-to-date basis, the stock has gone up by 94.74% in 2024. The FMCG penny stock recorded a 52-week-high of Rs 3.81 on (23/09/2024) and a 52-week-low of Rs 1.55 on (28/12/2023).