Elcid Investments Ltd which initially began out as a penny inventory has now hit ₹2,36,250, surpassing even MRF Ltd to develop into India’s costliest inventory to purchase.
Elcid Investments: A fowl flies previous a display screen displaying the Sensex outcomes on the facade of the Bombay Inventory Change (BSE) constructing in Mumbai, February 1, 2023.(Niharika Kulkarni/Reuters)
This brings within the query of how a lot cash one might have made if they’d invested in it earlier when it was a penny inventory.
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The Bombay Inventory trade web site exhibits that the corporate’s inventory at a 52-week low was at ₹3.37. That signifies that from that time, the inventory has now multiplied 70,104 occasions in worth.
So how a lot cash would one have made if they’d invested ₹10,000 into Elcid Investments as an example when it was at its 52-week low of ₹3.37?
₹10,000 at the moment would have gotten one 2,967 shares of Elcid Investments. Meaning these shares would now be value ₹70,09,53,750.
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Why did Elcid Investments shares rise so excessive?
The sky-high inventory value got here after the corporate was relisted on the BSE on Tuesday, October 29, 2024. It is market capitalization is ₹4,725 crore now.
One of many principal causes for Elcid Investments to be priced this excessive is that it holds 2,83,13,860 fairness shares or a 2.95% stake in Asian Paints Ltd, which is value near ₹8,500 crore.
The relisting of Elcid Investments via a particular name public sale mechanism for a value discovery on Monday and the speed settlement on Tuesday was introduced in a BSE round dated October 21, 2024 after the promoters made a voluntary supply to delist it which did not occur attributable to non-receipt of requisite majority of public shareholders.
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