Mauritius-based FII Saint Capital Fund invests in plastic furniture stock Okay Play India. Share hits upper circuit

  • Multibagger stock: Okay Play India shares today touched 5% upper circuit within few seconds of stock market's opening bell in early morning session

Asit Manohar
Updated28 Nov 2023, 12:17 PM IST
Multibagger stock has allotted preferential shares worth  <span class='webrupee'>₹</span>6.25 crore to the Mauritius-based FII.
Multibagger stock has allotted preferential shares worth ₹6.25 crore to the Mauritius-based FII.(Photo: Pixabay)

Stock market today: OK Play India shares are one of the multibagger stocks delivered by Indian stock market in 2023. In year-to-date time, this multibagger stock has risen to the tune of over 200 per cent but some FIIs are still bullish on this plastic furniture stock. As per the latest exchange filing by OK Play India Ltd, board of directors of the company has allotted 5 lakh company shares at 125 per share to Saint Capital Fund — a Mauritius-based foreign institutional investor (FII). The Mauritius-based FIIs had applied for preferential offer of the copmany.

After breakout of this stock market news, OK Play India shares witnessed strong buying during early morning session and hit 5 per cent upper circuit within few seconds of stock market's opening bell today.

Also Read: Adani Power to Adani Enterprises: Adani shares jump after SC hearing

OK Play India news

The board of directors of the multibagger stock approved share allotment to the FII during its meeting held on Monday. As per the exchange filing of the company, company board has approved 5 lakh shares to the FII at a price of 125 apiece. This means the Maurotous-based FII has been alloted company shares at a cost of 6.25 crore. OK Play India share price today is 156.50 apiece, this means absolute value of 6.25 crore investment for the Mauritius-based FII is 7,82,50,000. So, after allotment of preferential shares, the FII has gained over 25 per cent within one day of share allotment.

OK Play India Ltd alloted these 5 lakh shares to Saint Capital Fund in his fund raise drive to raise 25.75 crore via issuance of preferential shares that it had offered at a price of 125 per share. The company board also allotted company shares to other applicants like Leisure Enterprises LLP (4.80 lakh shares), Shubh Garg (3.50 lakh shares), Sanjay Garg (2 lakh company shares), Madhu Vadera Jayakumar (2 lakh company shares), Santosh Desai (1.25 lakh company shares), Earthbound Ventures LLP (1.20 lakh company shares), Ashika Global Finance Private Limited (1 lakh company shares), Pavan Bagai jointly with Geetika Bagai (1 lakh company shares), Kaushik Surendra Shah (2 lakh company shares), Vinod Kumar Bansal (1 lakh company shares) and Shradha Manish Mehta (1 lakh company shares).

The board of directors of the company allotted these shares at preferential issue price at 125 per share.

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

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News in Numbers

Numbers that help you understand news better
₹68,885 Cr

3.15L

48%

₹6.7 T

$240.5 M

$459 M

$3 B

₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

10%

20 Yrs

First Published:28 Nov 2023, 12:17 PM IST
HomeMarketsStock MarketsMauritius-based FII Saint Capital Fund invests in plastic furniture stock Okay Play India. Share hits upper circuit

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