Multibagger stock rallies 1,517% in 5 yrs, Board approves ₹125 Cr rights issue

Market


Quint Digital Media Ltd., a small-cap company with a market capitalization of Rs. 666.67 Cr., operates in the consumer discretionary industry. Quint Digital Media Limited, a company with a BSE Limited listing, is the operator of The Quint. In a stock market filing today, the company stated that the Board of Directors of the Company would meet on November 30, 2022, to examine the terms and conditions of the Rs. 125 crore rights issuance, including setting the price, record date, and other details.

The company has said today in a stock exchange filing that “The Board of Directors at their meeting held on February 7, 2022, had granted an approval for issue of equity shares by way of a rights issue to the existing shareholders of the Company for an amount not exceeding Rs. 125 Crores (Rupees One Hundred and Twenty-Five Crores only) in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the Companies Act, 2013 and other applicable laws (“Rights Issue”). Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), notice is hereby given that a meeting of the Board of Directors of the Company will be held on Wednesday, November 30, 2022, at 02:30 pm to, inter alia, consider and approve the terms and conditions of the rights issue including determination of the price, record date etc.”

Quint Digital Media Limited (QDML) reported total revenue from operations of INR 19.73 crore for Q2FY23 on a consolidated basis, up by 37% YoY from 14.39 crore reported in Q2FY22. Quint Digital Media’s net loss was 3.18 crore in Q2FY23 as opposed to 4.55 crore in the quarter that ended in September 2021.

Quint Digital Media Ltd. shares ended trading today at Rs. 304.00 a share, up 0.93% from the previous close of Rs. 301.20. Compared to the 20-Day average volume of 3,319 shares, the company had a total volume of 2,009 shares. The stock has produced a multibagger return of 1,517.02% over the past five years, and a multibagger return of 318% during the past three years. The stock has dropped 12.0% during the past year, and on a year-to-date basis, it has declined 19.64% in 2022. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 56.55%, FIIs stake of 9.88% and a public stake of 33.57%.


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