Moongipa Finance Ltd's rights issue oversubscribed

At the outset we would like to begin with thanking all our stakeholders for making our company's Rights issue successful. Our company achieved successful closure of its Rights Issue with an overwhelming response of 1,03,74,995 (One Crore Three Lakh Seventy Four Thousand Nine Hundred Ninety Five) fully paid Equity shares aggregating up to Rs. 2,593.75 lakh against the issue of 61,09,600 (Sixty Ore Lakhs Nine Thousand & Six Hundred) fully paid Equity shares aggregating up to Rs. 1,527.40 lakh having an issue price of INR 25 per equity share (including premium of INR 15 per equity share) on December 27, 2024.

Commenting on the success of the Rights Issue, I, Dr. Pooja Jain, Whole-time Director of Moongipa Capital Finance Limited would like to express gratitude to our dear and esteemed shareholders for participating and showcasing a vote of confidence in the company and its management through the overwhelming response received in the company's first Rights Issue.

On behalf of the company and the management, we are delighted and humbled by this show of confidence by our shareholders.

Incorporated in 1987, Moongipa Capital Finance Limited is a Non-Banking Finance Company (NBFC) primarily engaged in the business of trading and investment in equities, and financing activities. The company declared its full year profit of INR 174.51 Lakhs for the year ended March 2024. Keeping the same trend, the company achieved its profit of INR 156.26 Lakhs for the half year ended September 30, 2024. This was achieved through the company's lending activities, with investments and trading activities becoming a key contributor to the company's profitability. As stated in the offer documents, the utilization of the rights issue funds towards augmenting our capital base and increasing our operational scale, will give further boost to our profitability.

Shares of MOONGIPA CAPITAL FINANCE LTD. was last trading in BSE at Rs. 31.33 as compared to the previous close of Rs. 31.44. The total number of shares traded during the day was 22000 in over 152 trades.

The stock hit an intraday high of Rs. 32.00 and intraday low of 28.71. The net turnover during the day was Rs. 671077.00.

Source : Equity Bulls

Keywords

MOONGIPAFINANCE INE153K01018 FundRaising RightsIssue Oversubscription