Singapore-based FII buys stake in small-cap company. Stock hits upper circuit
Premium- Singapore-based FII Nav Capital VCC- Nav Capital Emerging Star Fund has bought 12,000 shares of the BSE SME stock
Singapore-based foreign institutional investor Nav Capital VCC- Nav Capital Emerging Star Fund has bought stake in small-cap company EP Biocomposites Ltd. After this stock market newsbreak, EP Biocomposites shares opened with an upside gap in early morning deals and hit upper circuit within few minutes of the opening bell.
As per the details of stock market bulk deals available on BSE, Nav Capital VCC- Nav Capital Emerging Star Fund has bought 12,000 shares of the company paying ₹224.15 per share. This means, the small-cap company has attracted ₹26,89,800 crore from this deal. The investment firm bought these shares through a bulk deal executed on 21st September 2022.
As mentioned earlier, FII investment in this small-cap company has worked as a catalyst for its stock price. However, the stock has been in uptrend for long as it has been hitting upper circuit for last eight straight session, rising to the tune of 40 per cent in these eight trade sessions. The small-cap stock is currently at its life-time high whereas its 52-week low on the BSE is 160.25 apiece.
EP Biocomposites share price today opened upside at ₹229 apiece levels and went on to hit new high of ₹236.55 apiece levels.
Current market cap of this small-cap stock is ₹39 crore. After around one and half hours of trade session on Thursday, trade volume of the small-cap stock is around 19,000. This stock is available for trade on BSE only and its book value per share is 14.88.
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This BSE stock was listed on the BSE SME exchange on 13th September 2022 and it has been hitting upper circuit from the date of its listing. The public issue was launched in August 2022 at a price band of ₹126 per equity share. The issue opened at ₹160.25 per share levels, delivering listing premium of near 27 per cent to the lucky allottees. So, the public issue has emerged an almost multibagger IPOs being produced by the Indian stock market in 2022. If an allottee is still holing this stock after allotment, its ₹126 per share investment has surged to ₹236.55, near 90 per cent higher from its issue price.
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