MULTIBAGGER STOCK: EV FINANCING FIRM MUFIN GREEN MULLS FUNDRAISE; SHARES GAIN

Multibagger Stock: Mufin Green Finance shares on Friday inched ahead in line with gains in the broader market. The EV financing stock opened at Rs 114.24 on NSE against the previous close of Rs 113.38. The counter made an intraday high of Rs 115.99.

Around 11:20 AM, the Kolkata-headquartered firm's scrip traded in the green at Rs 113.77. The counter is trading higher than 5-day moving averages but lower than 20-day, 50-day, 100-day and 200-day moving averages.

Mufin Green Fundraise

Mufin Green has informed through an exchange filing that a meeting of the Committee of Directors is scheduled to be held on July 30 to consider and approve raising of funds by way of private placement of unlisted, secured, non-convertible debentures.

Mufin Green Finance is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries. It claims to be India's first listed NBFC with a 100 per cent focus on EV financing. The company has its presence in 14 states in north India.

Mufin Green Share Price History

According to BSE analytics on July 26, Mufin Green Finance shares have delivered a multibagger return of 165 per cent in the last one year and 373 per cent return in 2 years. In 5 years, the NBFC stock has rallied a whopping 1,491 per cent, resulting in wealth gain for its investors.

Back in July 2023, Mufin Green Finance had issued bonus share to its investors in the ratio of 2:1 (two for one). In April 2023, the firm had announced the sub-division of equity shares. The split had taken effect in the ratio of 2:1 (two for 1). At that time, the face value of each stock of Mufin Green Finance was Rs 2. After split, the face value of each share of Mufin Green Finance became Re 1.

Mufin Green Finance commands a market cap of Rs 1,799.02 crore, as per BSE website. According to the shareholding pattern, promoters own majority stake at 54.51 per cent, followed by non-institutional investors at 31.89 per cent, other DIIs at 13.10 per cent and FIIs at 0.49 per cent.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-07-26T06:22:05Z dg43tfdfdgfd