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Stock jumps 9.2% after company to move from SME PLATFORM to main board of BSE and NSE

Major company plans to migrate from the SME platform of BSE to the main boards of BSE and NSE, aiming to boost market visibility, attract investors, and increase liquidity.
Stock surges 9.2% as company transitions from SME Platform to main board of BSE, NSE.

Introduction:

Major company has announced plans to migrate from the SME platform of BSE to the main boards of BSE and NSE. This strategic move, tentatively set for January 1, 2025, aims to enhance market visibility and liquidity.

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Share price movement of Gretex Corporate:

On December 30, 2024, Gretex Corporate Services Ltd opened at ₹775.00, up 3.27% from its previous close of ₹750.45. The stock reached a high of ₹820.00 and a low of ₹730.05. By 2:49 PM, it traded at ₹820.00, reflecting a 9.27% increase, with a market cap of ₹977.07 crore.

Gretex Plans Migration to Mainboard:

Gretex Corporate Services Limited announced its plan to file an application for migration from the SME platform of BSE to the main board of both BSE and NSE. The filing is tentatively scheduled for January 1, 2025.

This move marks a significant milestone for the company, reflecting its growth and commitment to enhancing visibility in the capital markets. The migration to the main board of BSE and NSE is expected to attract more investor interest and increase liquidity.

Ace investor holding in Gretex Corporate:

Anupam Gupta

Anupam Gupta holds a 2.58% stake in Gretex Corporate Services Ltd, owning 297,495 shares valued at ₹24.4 crore. This investment highlights significant confidence in the company’s potential and growth prospects.

Mala

Mala holds a 2.57% stake in Gretex Corporate Services Ltd, owning 295,785 shares valued at ₹24.3 crore. This substantial investment underscores trust in the company’s growth trajectory and long-term market prospects.

Stock performance of Gretex Corporate for Period of 1 week, 6 months and 1 year:

Gretex Corporate Services Ltd has delivered remarkable returns, with a 56% gain over one week, 40.5% over six months, and an impressive 116% over the past year, showcasing strong growth and significant investor confidence in the company.

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Shareholding pattern of Gretex Corporate:

All values in %Sep 2024Mar 2024
Promoter66.20%66%
FII0.00%0.00%
DII0.00%0.00%
Public33.80%33.80%

About Gretex Corporate:

Gretex Corporate Services Ltd (BSE: 543324) is a SEBI-registered Category-I Merchant Banker with over six years of experience. Recognized by BSE as a top SME IPO performer, it excels in IPOs, valuations, and corporate advisory services.

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.

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