FII-Backed Penny Stock Hits 5% Upper Circuit On Its Sports Web Series Selection For KISFF

Toyam Sports Limited opened today on the BSE at Rs 6.59 apiece and due to a spurt in volumes the scrip hit a 5% upper circuit level at Rs 6.61 during the morning deals. The rally in the share price of this penny stock was witnessed after the prestigious "Kenya International Sports Film Festival (KISFF)," the top African film festival, selected Toyam Sports Limited's sports web series, "Kumite 1 Warrior Hunt," as an official submission.

The first sports web series in India, "Kumite 1 Warrior Hunt," immerses viewers in the captivating world of mixed martial arts (MMA). The main goal was to make MMA more well-known among Indian MMA athletes. The series goes beyond simple entertainment to act as an instructional instrument, educating viewers on the complexities and thrill of MMA. In addition, it gives Indian MMA athletes a stage on which to display their extraordinary abilities and compete for the chance to represent India internationally. Toyam aims to give MMA the recognition it merits within India's diversified athletic environment with "Kumite 1 Warrior Hunt."

In February 2023, Kumite 1 Warrior Hunt was made public. The renowned Indian sports promoter Mohamedali Budhwani and Bollywood actress Suniel Shetty served as the hosts of this groundbreaking web series. The event was a resounding success and won praise from the Indian Mixed Martial Arts community as well as notable figures from other sports and Bollywood, including the cricketers Irfan Pathan, Sehwag, Yuvraj Singh, the wrestler Khali, Mahavir Singh Phogat, comedian Kapil Sharma, Ahan Shetty, and many others.

Mohamedali Budhwani, CMD of Toyam Sports Limited, expressed his gratitude, stating: "I am deeply honoured and appreciative for our sports web series being selected for the foremost film festival in Africa. This reaffirms our dedication to showcasing the strength and enthusiasm of sports on an international platform."

Toyam Sports Limited said last week that it planned to raise Rs 50 crore through a rights issue. For the rights offer, Toyam Sports has recruited a number of intermediaries, including Merchant Bankers, Legal Advisor, Advisors, Bankers, and Registrar. In order to accommodate current and upcoming fundraising plans, the Board has approved expanding the company's authorised share capital to Rs. 110 crores.