NBFC stock Mufin Green Finance hits 5% upper circuit after announcement of fund raise. Do you own?

Upper circuit stock: Mufin Green Finance shares have remained in base building mode after climbing to life-time high of ₹136.60 apiece on BSE in early November 2023. However, it seems that the Non Banking Financial Company (NBFC) stock is trying to come out of its consolidation phase. Mufin Green Finance share price today opened upside and went on to hit intraday high of ₹115.15 per share on BSE, touching 5 per cent upper circuit during Friday deals.

Mufin Green Finance news

Mufin Green Finance shares were in news today as it has informed Indian stock market exchanges about fund raise. It has informed Indian bourses about ₹17.50 crore fund raise via issuance of Secured Non-Convertible Debentures on private placement basis.

Mufin Green Finance informed Indian stock market exchanges about fund raise move citing, "With reference to our letter dated December 02, 2023 and in terms of Regulations 30 read with Schedule III of the SEBI Listing Regulations, we wish to inform you that the Board of Directors of Company, in its meeting held today i.e. Friday, December 8, 2023, has inter alia, considered and approved the terms and conditions for issuance of 1,750 (one thousand seven hundred fifty) unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees ("INR"), having a face value of INR 100,000 (Indian Rupees One Lakh) each and an aggregate face value of INR 17,50,00,000 (Indian Rupees Seventeen Crore and Fifty Lakh) ("Debentures") on a private placement basis."

Mufin Green share price history

Taking cue from Mufin Green Finance share price history, this NBFC stock remained in continuous uptrend since mid of September 2023 to first week of November. In this period, this NBFC share surged from around ₹50 apiece levels to ₹136.60 per share levels, delivering to the tune of 175 per cent return to its positional investors. In YTD time, this share has delivered around 200 per cent return to its shareholders. So, Mufin Green Finance shares are one of the multibagger stocks in 2023.

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