Multibagger stock: 25,200% returns in 5 years! Promoter raises stake in small-cap stock under ₹100. Do you own? | Stock Market News

Multibagger stock: Electric Vehicle (EV) manufacturer Mercury EV-Tech Limited’s promoter group, Raghuvir International Pvt Ltd, raised its stake in the small-cap stock on Friday, January 6, according to a BSE filing. 

As per the filing data, the promoter acquired 14,75,000 pr 14.75 lakh equity shares carrying voting rights and 53,00,000 or 53 lakh share warrants via a preferential allotment process on Monday.

The company also disclosed that Raghuvir International Pvt Ltd owned 22.92 per cent of the total shares or nearly 4.02 crore shares before the acquisition. After the preferential allotment, the promoter’s stake has increased to 24.74 per cent or nearly 4.7 crore shares. 

“Allotment of new equity shares which will rank pari passu (equally) with the existing equity shares,” said the company in the exchange filing.

Mercury EV-Tech Ltd shares closed 4.99 per cent lower at ₹91.33 after Monday’s market session, compared to ₹96.13 at the previous stock market close. The company announced the promoter acquisition of stake after market operating hours on January 6.

The company’s total diluted share capital stands at ₹23.52 crore, with a face value of Re 1 per share each. 

About Mercury EV-Tech

Mercury EV-Tech Limited is an electric vehicle manufacturer which provides end-to-end solutions for EV needs. The company’s product line comprises two-wheelers, buses, loaders and passenger vehicles, along with other components like batteries, chassis and motor controllers. According to the website, the company also operates a CED coating plant. 

The company operates its Battery Unit from the Vadodara plant in Gujarat, its Autoparts unit from a plant in Chhapi, Uttar Pradesh, and two of its Research and Development centres, one from Vadodara and another from Maihar in Madhya Pradesh. 

In the battery manufacturing segment, the company manufactures Lithium-ion batteries under the subsidiary of Powermetz Energy. The company’s presence is in more than 20 cities, and to date, they have had more than 15,000 customers, according to the company website. 

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