Quicktouch Technologies Limited, an Indian software solutions provider with operations in New Delhi and Bengaluru, has seen its shares reach an upper circuit of 5% at ₹205.90 today, following the company's announcement to issue preferential warrants to raise capital. The move is aimed at fueling growth and expanding its flagship product, QuickCampus.
The company's stock performance has been stellar, with multibagger returns of 114% over the past year. Investors have been rewarded with robust half-yearly and annual results, boasting a return on equity (ROE) of 74.5% and a return on capital employed (ROCE) of 86.8%. The preferential warrants will be issued at ₹196.17 each, aiming to raise a total of ₹2,15,78,70,000 (USD1 = INR83.257), subject to shareholder approval.
This financial maneuver follows Quicktouch Technologies' impressive initial public offering (IPO) in April 2023, which was priced at ₹61 per share and was oversubscribed by 100 times. The company made its debut on the NSE SME Exchange platform on May 2nd, 2023, at ₹92 per share—a premium of over 50%. Investors who retained their shares from the IPO have witnessed their investment value soar by approximately 250% in just six months.
With the current trading price aroun206 on the NSE, those who invested in the minimum IPO lot size of 2000 shares for ₹1.22 lakh have seen their investment grow to roughly ₹4.12 lakh.
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