Bonus Issue, Rights Issue On March 7: Multibagger IT Stock Jumps 104% In 2024

Small Cap IT Software sector company Naapbooks Ltd shares hit back-to-back upper circuits and 52-week high on February 27 and February 28 on BSE. Last trading price of Naapbooks stock on BSE is Rs 197.90 apiece with intraday gain of 4.99%. The company informed today about its upcoming meeting of Board of Directors to consider bonus shares and rights issue. Naapbooks shares zoomed 104% year-to-date, and 153% in last 1-year. Check details below:

Naapbooks To Consider Rights Issue, Bonus Issue On March 7: As per the regulatory filing of the company dated February 28, 2024, "a meeting of Board of Directors of the Company will be held on Thursday, 07th March, 2024 inter-alia, to consider and discuss, subject to the approval of the shareholders:

1) To explore opportunities of fund raising through various means of Issuance of Shares/Share Warrants on preferential basis or through Rights Issue or debt instrument, in one or more tranches, for an amount not exceeding Rs. 25 crores (INR Twenty Five Crores), subject to the necessary approvals and in accordance with the provision of Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time;

2) To consider and evaluate the proposal for issue of Bonus Shares, subject to the approval by the members and any other requisite approvals;

3) To consider and explore opportunities of to acquire business of or do merge with IT Companies."

Naapbooks Inks MoU on Feb 23, 2024: The BSE filing of Naapbooks on Feb 23, 2024 issued a BSE filing stating, "we would like to inform that the company has signed an MOU with M/s. Tinycheque Ventures Private Limited on 23rd February, 2024 for doing business of design, development and marketing of SaaS products and services."

Naapbooks Shares Performance & Return: The 52-week high price of Naapbooks shares on BSE is Rs 197.90 apiece and 52-week low price is Rs 54.00 apiece, respectively. The company's market capitalisation is Rs 59.50 crore. Naapbooks shares zoomed 27% in last 2-weeks, gained 82% in last 3-months, soared 141% in last 6-months, and offered return of 250% in last 2-years.

Naapbooks About: Naapbooks is a FinTech company that is technologically driven with an all-encompassing experience of seven years in the IT industry. We offer finance consultancy and software support services. Our energy is channeled into envisioning novel innovations such as mobile banking and cloud-based management software, according to its official website.

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