Home / Markets / Multibagger penny stock announces record date for rights issue

With a market valuation of 19.02 Cr, 7NR Retail Limited is a small-cap company that operates in the consumer discretionary industry. The company primarily engages in the branding and sale of ready-made garments, suiting, shirting, fabrics, and other textile products. In its wholesale and retail segments, the company primarily engages in the business of dealing in apparel. The record date for a shareholder's eligibility for a 1:1 rights issue has been set by the company's board of directors.

The company has said in a regulatory filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Company has fixed Tuesday, 23rd August, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of 1 (One) Fully paid-up Equity Share of the Company having face value of Re. 1/- (Rupee One Only) each for every 1 (One) Equity Share held by the eligible existing equity shareholder in the Company on Rights basis (Rights Issue)."

The shares of 7NR Retail Ltd closed on Friday at 1.63 apiece, up by 0.62% from the previous close of 1.62. On Friday, the total traded shares were 3,88,174. In the last 1 year, the stock price has risen from 0.81 per share as of 23rd August 2021 to the current price level which logs in a multibagger return of 101.23%. On a YTD basis, this penny stock has fallen 7.91% so far in 2022. In the last 6 months, the stock has fallen 7.39% and is also fallen 6.32% in the last 1 month. On the BSE, the stock had touched a 52-week-high of 2.93 on 28/04/2022 and a 52-week-low of 0.76 on 21/09/2021 which indicates that at the current market price of 1.63 the stock is trading 44% below the 52-week-high and 114% above the 52-week-low. The company has a promoter shareholding of 27.23% and a public shareholding of 72.77% for the quarter ended June 2022.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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