BackMultibagger stock of 2022: HFC jumps 85% in YTD after 900% rally in 7 years
Multibagger stock for 2022: In YTD time, this HFC stock has surged from around ₹87 to ₹160 apiece levels
PremiumMultibagger stock of 2022: Despite heavy sell-off on Dalal Street after outbreak of the Russia-Ukraine war, Indian stock market has managed to produce a good number of multibagger stocks and some stocks are in the cue to enter the big boys' club. BSE listed Star Housing Finance shares are one of them. In year to date (YTD) time, shares of this housing finance company (HFC) have surged from around ₹87 to ₹160 apiece levels, recording around 85 per cent rise in 2022.
This is not the first time when this HFC stock has delivered stellar return to its shareholders. It has a history of giving whopping return to its investors. In last 7 years, this multibagger stock has risen from around ₹16 to ₹160, delivering 900 per cent return to its positional shareholders.
Star Housing Finance share price history
In last one month, this multibagger stock for 2022 has surged from near ₹130 to ₹160, logging around 22 per cent jump in this period. In last 6 months, Star Housing Finance share price has ascended from ₹95.55 to ₹160 apiece levels, recording 65 per cent upside in this period. In year to date time, this multibagger stock has shot up from ₹87 to ₹160 levels, surging near 85 per cent in YTD time. In last one year, this HFC stock has risen from around ₹93.50 to ₹160 apiece levels, soaring near 70 per cent in this period. Likewise, in last 5 years, this stock has delivered 135 per cent return to its shareholders.
Similarly, the stock has risen from around ₹16 apiece levels (close price on 20th March 2015) to ₹160 per share levels (close price on 29th July 2022), appreciating to the tune of 900 per cent in these near 7 years time.
Star Housing Finance news
Star Housing Finance is in news these days for raising ₹21.6 crore through issuance of preferential shares. After this fund raise, rural focused HFC's net worth has surged to ₹85 crore. This equity infusion is a part of series of capital raise in the Company, last being done in FY’22 which was subscribed by retail investors, mostly professionals from BFSI space. This raise has further strengthened the capital adequacy and has moderated the leverage levels of the Company.
Star Housing Finance informed BSE about the fund raise citing, "Board of Directors of the Company at its meeting held today i.e. 29th July, 2022 which commenced at 11.00 a.m. and concluded at 11.30 a.m., inter alia, has considered and approved the allotment of 16,00,000 (Sixteen Lakhs) fully paid-up equity shares of face value of Rs. 10/- per equity share at an issue price of Rs. 135/- per equity share (including premium of Rs. 125/- per equity share) aggregating to Rs. 21,60,00,000 (Rupees Twenty One Crore Sixty Lakhs Only) on preferential basis through private placement."
Speaking on the importance of this fund raise, Kalpesh Dave, Head Corporate Planning and Strategy at Star Housing Finance said, "This capital infusion makes Star HFL ready to get re-rated as the deployment shall be for AUM scale up in rural geographies. In the interim, with this raise Star HFL has met the minimum net worth quantum and shall await to meet the period & other criteria needed for listing on the NSE platform, subject to relevant regulatory/statutory approvals. In line with business plan, the Company has initiated actionable for next capital raise, subject to all approvals so as to cross net worth of Rs.100 crs in the current financial year. We look forward to participation by like-minded investors as the Company charts its growth."
About Star Housing Finance shares
Star Housing Finance shares are listed on BSE that ended on Friday with a market capital of ₹266 crore. The small-cap stock finished on Friday with a trade volume of 1,21,573. Its 52-week high is ₹163.55 whereas its 52-week low is ₹71.20 apiece.
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