Penny Stock Under Rs 20 Surges Over 4% Allotment of 1 Cr Equity Shares For Rs 4,51,57,500 To Promoter

On Tuesday, the shares of OK Play India witnessed impressive interest from market watchers as the scrip gained to an intraday high of Rs 13.55 from the previous close of Rs 12.95 representing a surge of 4.63% in the afternoon deals. The rally in the stock price was witnessed after the company on Monday accorded its approval for the allotment of equity shares to an investor (Allottee) Anandana Handa (Promoter) in its 10th tranche of allotment on a preferential basis at an issue price of Rs.6.021/- per share.

The allotment has been made for a cash deal of Rs 4,51,57,500.00 against the allotment of warrants to the specified promoter.

"The company's share has been split with effect from 11th March 2024 such that every one equity share of the nominal/face value of Rs. 10/- each into ten equity shares of the nominal/face value of Rs. 1/- each, therefore the price and number of shares/ warrants has been adjusted accordingly," said OK Play India in a stock exchange filing on Monday.

Meanwhile, on 05 October 2024, the company had accorded its approval for the allotment of equity shares in its 9th tranche of allotment on a preferential basis at an issue price of Rs.6.021/- per share. The amount of Rs 4,51,57,500.00 received from Rishab Handa - promoter against allotment of 10,000,000 warrants whereas the amount received of Rs 2,25,78,750.00 from Raghav Handa - promoter against allotment of 5,000,000 equity shares were finalized on Extra Ordinary General Meeting (EGM) of the company.

Whereas on 04 October 2024, OK Play India accorded its approval for allotment of 6,000,000 equity shares to Rishab Handa, Raghav Handa and Anandana Handa in its eighth tranche of allotment on a preferential basis at an issue price of Rs.6.021/- per share for an amount of Rs 27,094,500.00.

Financially speaking, Ok Play India said that its revenue from operations brought in Rs 39.81 crore in the June 2024 quarter, a 7.95% drop from Rs 43.25 crore in the same quarter in 2023. Its net profit increased by 139.81% from Rs. 0.36 crore in Q1FY24 to Rs. 0.87 crore in Q1FY25. Consolidated EBITDA increased 17.3% from Rs. 6.82 crore in the quarter ended in June 2023 to Rs. 8.00 crore in the quarter ended in June 2024.

The top toy company in India goes by the name OK Play. The firm has expanded into a number of product areas, including playground equipment, school furniture, and toys. Products such as infrastructure, industrial, automotive, and point-of-purchase mannequins. The largest domestic toy company in India, OK Play India Ltd., sells school supplies, medical items, and both indoor and outdoor play equipment.