Penny Stock Below Rs 35 Approves Rs 13.23 Cr Buyback, Shares Fall 17% In 1-Week

Board of directors of penny stock operating in NBFC sector Arnold Holdings Ltd on December 21 considered and approved the proposal to buyback up to 63,00,000 (Sixty Three Lakhs) Equity Shares of the Company at Rs 21/- per share (Rupees Twenty One only) per Equity Share (hereinafter referred to as the "Buyback Price") for an aggregate amount not exceeding Rs 13,23,00,000 (Rupees Thirteen Crores Twenty Three Lakhs only) (hereinafter referred to as the "Buyback Size"), (excluding all expenses and taxes incurred / paid or to be incurred) representing 20.95% and 23.99% of the total Equity Shares and total paid-up equity share capital and free reserves based on audited financial statements of the Company for the financial year ended on March 31, 2023 respectively through the tender offer route.

The Record date for buyback will be decided and informed separately.

Arnold Holdings Stock Performance & Return: Last trading price of Arnold Holdings share on BSE is Rs 20.64 per share with intraday fall of 3.51%. Its 52-week high price is Rs 30.90 per share and 52-week low price is Rs 16.90 per share, respectively. The company has a market capitalisation of Rs 62.07 crore. Arnold Holdings shares declined 16.94% in last 1-week, gained 10% in last 2-weeks, fell 13% in last 1-year, and jumped 50% in last 2-years. In last 3-years, Arnold Holdings shares declined 30%.

Arnold Holdings declared 5:1 bonus issue that traded ex-bonus on September 27, 2016.

Arnold Holdings About: It is non-banking finance company. Arnold Holdings is engaged in offering inter corporate loans, personal loans, loans against shares and securities, loans against properties, trade financing, bills discounting, trading in shares and securities, among others. It provides financial services to commercial, industrial and financial clients.

Disclaimer:

The stock highlights the buyback 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.