Multibagger Penny Stock To Consider Fund Raise, Shares Locked In Upper Circuit

Board of small cap company operating in IT Software sector, GI Engineering Solutions Ltd on August 16 stated that it plans fund raising by way of issue of securities, convertible instruments in order to boost the long-term financial resources of the company. GI Engineering shares today hit upper circuit. Last trading price of GI Engineering share is Rs 10.57 apiece with intraday gain of 1.93%. Check details below:

GI Engineering To Consider Fund Raise: According to the BSE filing dated August 16, 2023, "With reference to above, we wish to inform you that the meeting of the Board of Directors of the Company, in terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is scheduled to be held on Saturday, August 19, 2023 at the registered office of the Company, inter-alia to augment the long-term financial resources of the Company, fund raising, by way of issue of securities, convertible instruments, or any other method or combination thereof, for cash or otherwise, and to appoint requisite intermediaries required for this purpose."

GI Engineering Stock Performance & Return: Last trading price of GI Engineering share is Rs 10.57 per share. Its 52-week high price is Rs 38.28 apiece and 52-week low price is Rs 4.34 apiece, respectively. The company has a market capitalisation of Rs 91.03 crore. GI Engineering shares delivered 100% return in last 6-months, 121% return YTD, 155% return in last 1-year, 350% return in last 2-years, and maximum return of 442% in last 3-years.

GI Engineering About: GI Engineering is conventionally an engineering design company specializing in civil engineering activities and ancillary services. G.I. Engineering subsequently ventured into a wide range of civil engineering services including land planning, land surveying and landscape architectural services etc.

Disclaimer: The stock is planning to consider fund raise and shares hit upper circuit. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.