Ashish Kacholia portfolio: Multibagger stock Fineotex Chemical to declare fundraise. Rallies 1000% in 5 years | Mint
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Business News/ Markets / Stock Markets/  Ashish Kacholia portfolio: Multibagger stock Fineotex Chemical to declare fundraise. Rallies 1000% in 5 years
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Ashish Kacholia portfolio: Multibagger stock Fineotex Chemical to declare fundraise. Rallies 1000% in 5 years

Ashish Kacholia-backed Fineotex Chemical share price touched a lifetime high after the company announced a board meeting to consider fundraising

Ashish Kacholia portfolio: Multibagger stock has fixed board meeting on 16th February 2024 to consider and approve proposal for fundraise. (Photo: AP)Premium
Ashish Kacholia portfolio: Multibagger stock has fixed board meeting on 16th February 2024 to consider and approve proposal for fundraise. (Photo: AP)

Ashish Kacholia portfolio: Fineotex Chemical shares are one of the multibagger stocks that the Indian stock market has produced in the last few years. This Ashish Kacholia-backed chemical stock has risen from around 33.75 to 400 apiece level on the NSE, delivering over 1,000 percent return to its positional investors in this time.

This Ashish Kacholia portfolio stock has been in a bull trend for the last four straight sessions. However, the multibagger stock touched a lifetime high on Monday after the chemical company informed the Indian stock market exchanges about the board meeting to consider and approve fundraising through the issuance of fresh shares. However, after touching a new high, profit booking was triggered and the stock ended at 391.30 per share on Monday.

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Fineotex Chemical share price today once again opened upside and touched an intraday high of 400 apiece on NSE, logging around a 2 percent intraday rise.

Fineotex Chemical fund raise details

In its exchange filing on Monday, Fineotex Chemical Ltd said, "Pursuant to regulation 29(1)(d) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform you that the meeting of Board of Director of the Company will be held on Friday, February 16, 2024, inter alia to consider proposal for raising of funds by way of issue of one or more of instruments comprising of Equity Shares, Convertible Securities of any other description or Warrants or Debt Securities, through Private Placement/Preferential Issue/Qualified Institutions Placement or such other methods or combinations thereof as may be decided by the Board and to approve ancillary actions for the above mentioned fund raising, subject to such Statutory/Regulatory approvals as may be necessary, wherever required."

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Ashish Kacholia shareholding

According to the shareholding pattern of Fineotex Chemical Ltd for the October to December 2023 quarter, ace investor Ashish Kacholia owns 31,35,568 company shares, which is 2.83 percent of the total paid-up capital of the company. In the July to September 2023 quarter, Ashish Kacholia was holding the same 31,35,568 Fineotex Chemical shares. This means the ace investor has remained steady in this multibagger chemical stock during Q3FY24.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 13 Feb 2024, 12:27 PM IST
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