Ok Play India Hits 8th Consecutive Upper Circuit Amid Stock Split & Fundraising Buzz

On Wednesday, the shares of OK Play India opened at a 5% upper circuit limit of Rs 164.30 apiece. The multibagger stock of 2023 has been seen hitting consecutive upper circuits for the 8th session in a row hence logging in a gain of over 30% in this time frame. OK Play India of the multibagger stocks of 2023 gaining 235% YTD has declared that the Board of Directors will meet next week to discuss fundraising plan.

"We wish to inform you that the meeting of Board of Directors of the Company is scheduled to be held on Monday 27th November, 2023 to consider and approve the proposal for raising of funds by way of Preferential Issue in compliance with the applicable provisions subject to approval of shareholders including all such regulatory/statutory approvals as may be required," said OK Play India in a stock exchange filing.

The company's board of directors recently approved the subdivision or stock split of the company's existing equity shares at a ratio of 1:10, according to the company's exchange filing. This means that the Board authorised the division of every 1 equity share of the nominal/face value of Rs. 10/- each into 10 equity shares of the nominal/face value of Rs. 1/- each.

OK Play India Limited has signed into an exclusive distributorship agreement with MANN+HUMMEL Filter Private Limited (MHIN), a subsidiary of the MANN+HUMMEL Group, Germany, through its recently acquired wholly owned subsidiary, MRH Technologies Private Limited. This agreement pertains to the promotion, distribution, supply, installation, and maintenance of the revolutionary new product, "PureAir Mobile Fine Dust Particle Filter Roof Box," which aims to tackle air pollution.

Commenting on the agreement, Mr. Rajan Handa, Managing Director, said: "We are extremely delighted to announce our arrangement with MANN+HUMMEL, a prominent global leader and recognized authority in the field of air filtration solutions. This agreement holds significant importance, not only for the Company but also for the Nation as it has the potential to be a transformative remedy for addressing air pollution in India."

"Air pollution poses significant detrimental consequences on public health and the environment. The well documented adverse effects of particulate matter include detrimental impacts on respiratory systems, cardiovascular health, and overall quality of life. Moreover, the elevated levels of Air Quality Index (AQI) pose a serious threat to the youth and future generations, necessitating an urgent and strategic response. Additionally, according to a report published by Dalberg Advisors, Blue Sky Analytics and the Confederation of Indian Industry (Cll), Indian businesses incur losses of over Rs. 7 lakh crores annually as government imposes restrictions on construction and manufacturing activities to curb the effects of air pollution," he added.

"In contrast to prevailing preventive measures, this product offers a cure to combat the menace of air pollution. With the introduction of this product, we aspire to lead the initiative in mitigating air pollution and promoting cleaner air. The launch of the product is anticipated soon, and we pledge determined efforts to ensure that the public breathes cleaner air, fostering improved health for the citizens of our country," Rajan Handa stated.

OK Play India was founded in 1989 and is a firm that specialises in the manufacturing of plastic moulded toys, school furniture, outdoor play equipment, point-of-purchase products, and electric vehicles. Additionally, the firm holds a dominant market share in the production of plastic fuel tanks designed for heavy-duty commercial vehicles.