Penny stock hits 20% upper circuit after it announces fundraise via preferentialPenny stock hits 20% upper circuit after it announces fundraise via preferential

Introduction:

Penny stock has approved a capital increase from ₹40 crore to ₹90 crore, enabling the issuance of 9 crore equity shares. It also plans to raise ₹99.62 crore through fully convertible warrants on  preferential basis, subject to shareholder approval via postal ballot by February 21, 2025.

Share Price movement of Heads Up Ventures:

On February 24, 2025, Heads Up Ventures Limited opened at ₹10.30, reaching a high of ₹11.05, up 19.98 percent from its previous close of ₹9.21, and a low of ₹9.66. Currently, it is trading at ₹11.05, with a market cap of ₹24.40 crore.

Heads Up Ventures announces fundraise:

Heads Up Ventures Limited’s Board approved an increase in authorized share capital from ₹40 crore to ₹90 crore, allowing the issuance of 9 crore equity shares. The proposal includes amendments to the Memorandum and Articles of Association, pending shareholder approval.

The company plans to raise ₹99.62 crore by issuing up to 6.64 crore fully convertible warrants on a preferential basis. The warrants will be allotted at ₹15 per warrant to non-promoter public category investors, with 25% of the amount payable upfront.

A postal ballot will be held to seek shareholder approval for the capital increase and fund-raising plan. The cut-off date for the postal ballot and e-voting is February 21, 2025.

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Ace investor holding of Heads Up Ventures:

Harshawardhan Hanmant Sabale holds 3,531,123 shares of Heads Up Ventures, representing 15.99 percent of the company. The investment is valued at ₹3.9 crore, with no change from the previous quarter, reflecting confidence in the company’s long-term prospects.

Ketankumar Ratilal Patel owns 524,538 shares of Heads Up Ventures, amounting to 2.38 percent of the company. His investment is valued at ₹58.0 lakh, with no change in holdings from the previous quarter, indicating stability and long-term commitment.

Stock performance of Heads Up Ventures for Period of 1 week, 6 months and 1 year:

Heads Up Ventures stock saw a 18.3 percent gain over the past week, indicating strong short-term growth. However, it faced a 22.8 percent decline over the last six months, reflecting some challenges. Over the past year, the stock dropped 34.6 percent, indicating overall underperformance.

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Shareholding pattern of Heads Up Ventures:

All values in %	Dec-24	Sep-24	Jun-24
Promoters	13.56	13.56	13.56
FII	0.42	0.42	0.42
DII	0.22	0.22	0.22
Retail & others	85.8	85.79	85.8

About Heads Up Ventures:

Heads Up Ventures is a company focused on real estate, infrastructure, and investment opportunities. It aims to create value through strategic projects and innovative solutions across various sectors, with a commitment to sustainable growth and expanding its footprint in key markets.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.