Despite the fall in the market, penny stock Evexia Lifecare is seeing good growth on Thursday, November 14. In fact, behind the rise in the stock, convertible warrants worth Rs 24 crore have been issued on selection basis, which will be issued after obtaining the approval of the shareholders in the extraordinary general meeting held on 23 October 2024 and the principal approval from the Bombay Stock Exchange on 29 October 2024. Have been done. Each warrant was priced at ₹3.60 and there is no change in the paid-up share capital of the Company as a result of this issuance.
As part of its strategy to expand its presence in the pharmaceutical sector, Evexia Lifecare has recently signed an investment agreement with DIPOned Research International Private Limited, which proposes to acquire 65 percent equity stake. This equity investment will be made through primary shares and quasi-capital, which will support Avexia’s cross-market expansion initiatives.
stock movement
The penny stock rose as much as 3 per cent to hit a high of ₹4.05 in day’s trade. The stock is now just 8 per cent away from its 52 week high of ₹4.4, recorded earlier this month. Meanwhile, it has increased by more than 161 percent from its 52 week low of ₹1.55, which was recorded last December.
This stock has given multibagger returns of 134 percent in the last one year and 115 percent in the year to date (YTD).
business model
Avexia Lifecare Limited trades various products through its subsidiaries, including chemicals, edible oils, diamonds, gold, and plastic granules. The company provides web and software development services and also manufactures e-bikes. Earlier this company was known as Kavit Industries Limited, it changed its name to Avexia Lifecare in January 2021. It was established in 1990 and is headquartered in Vadodara.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.