Multibagger penny stock announces record date for rights issue

Saboo Sodium Chloro Ltd is a small cap company having a market cap of ₹70.06 Crore operating in the Fast Moving Consumer Goods (FMCG) sector. The first and largest salt refinery in North India is Saboo Sodium Chloro Ltd. Surya Salt, Saboo Salt, and Tota Salt are three of the company's premium table salt brands. Saboo Sodium Chloro Ltd. produces salt for a range of sectors, including the manufacturing of microfine salt for the popcorn and noodle industries as well as for the feed and textile industries.

The Board of Directors of the company said in a regulatory filing that “The Company had, vide letter dated September 14, 2022, intimated inter-alia that the First and Final Call of Rs. 7.50 per partly paid-up equity share on 1,78,95,050 partly paid-up equity shares would be payable from October 03, 2022 to October 18, 2022 (both days inclusive). In this regard, we wish to inform you that the Board of Directors of the company has, at its meeting held on September 14, 2022 fixed Thursday, September 22, 2022 as the ‘Record Date’ for the purpose of determining the holders of the partly paid-up equity shares who shall be liable to pay the money on the First and Final Call.”

Today's closing price for Saboo Sodium Chloro Ltd shares was ₹16.65 a piece, up 6.73% from yesterday's close of ₹15.60. This penny stock has gained 65.34% during the past five years, and over the past three years it has created a multibagger return of 227.76%. The stock has climbed 10.63% over the past year, and on a year-to-date basis, it has appreciated 6.87%so far in 2022. The stock has grown 16.84% over the past six months and 16.60% over the past month. On the BSE, the stock had touched a 52-week-high of ₹24.23 (09/12/2021) and a 52-week-low of ₹12.21 (08/07/2022), indicating that at the current market price the stock is trading 31.28% below the high and 36.36% above the low. For the quarter ended June 2022, the company has recorded a promoter shareholding of 45.67%, DIIs holding of 0.14% and public shareholding of 54.18%.