Penny Stock That Declared Rights Issue Hitting Back To Back Upper Circuit For Last 3-Days

Leading penny stock under Rs 20, Indowind Energy Ltd has been hitting back to back upper circuit since January 2, 2023. Before January, the stock hit upper circuit on December 30, December 29, and December 28. The company approved rights issue earlier last year on December 21, 2022.

The company held a meeting on December 27, 2022 to give intimation of rights issue. The stock has already given 25% return in 1-week and 33% return in last 1-month. Check key details below:

1. Indowind Energy Ltd Declared Terms Of Rights Issue

The Board Meeting held today, i.e., 27th December, 2022 has inter alia considered and approved the following terms of the Rights Issue:

1) Instrument: Fully paid-up Equity Shares of face value of Rs. 10/- each

2) Total number of Equity Shares and Rights Issue size: 3,58,96,594 fully paid-up Equity Shares each for amount aggregating to Rs. 43,07,59,128

3) Rights Issue Price: Rs. 12/- per fully paid-up Equity Share [including a premium of Rs. 2/- per Equity Share]

4) Record date: 13th January,2023 (Friday) for the purpose of determining the names of the equity shareholders who would be eligible to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders"

2. Indowind Energy Stock Performance

The last trading price of the stock is Rs 19 apiece with intraday gain of 3.78%. The stock's 52-week high is Rs 44 apiece and 52-week low is Rs 11 apiece, respectively. The stock has a market capitalisation of Rs 172 crore.

3. Indowind Energy Return

The stock has given a return of 25% in last 1-week, 33% in last 1-month, 35% in last 3-months, and declined 54% in last 1-year. The shares have surged 535% in last 3-years and 47% in last 5-years.

4. About Indowind Energy

Indowind, is an IPP in the renewable energy field generating "Green Power" through dedicated Wind farms & also offers allied services in the Wind Energy sector with a mission to be a global player in wind energy sector.

Indowind has strong capabilities and expertise in areas like project management, robust managerial & financial resources and experience in the operations of wind farms. The Indowind O&M team consists of dedicated staff for 24x7 monitoring of the Wind mills with capabilities for attending to machinery breakdowns to keep them in shipshape.

Disclaimer

The stock gives details about back to back upper circuit ever since it has approved rights issue. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.