Stock market news: Mufin Green shares hit the high circuit for the second straight session

Over the past three years, Mufin Green Finance shares have made its investors richer by 3,563 percent.

Stock upper circuit: Shares of Mufin Green Finance Ltd were locked in the 5 percent higher circuit for the second consecutive session on December 11. Shares of Mufin Green opened at Rs 120.90 to hit the upper circuit once trading started on Monday. On Friday, the counter was closed at Rs 115.15.

The rise in share price comes after the company said in a regulatory filing that it would raise a fund of Rs 17.50 crore through the issuance of secured non-convertible debentures on a private placement basis.

“With reference to our letter dated December 2, 2023 and in terms of Regulations 30 read in Schedule III of the SEBI Listing Regulations, we would like to inform you that the Board of Directors of the Company, in its meeting today i.e. Friday December 8, 2023, has, among other things, issued the terms and conditions for the issuance of 1,750 (one thousand seven hundred and fifty) unlisted, secured, senior, redeemable, chargeable, transferable, non-convertible debentures, denominated in Indian Rupees (“INR”), studied and approved, 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) (“Bonds”) on a private placement basis” , the company said.

The stock has given its investors a return of 1,178 percent over the past two years. Over the past three years, Mufin Green Finance shares have made its investors richer by 3,563 percent. However, on a YTD basis, this stock has delivered a return of approximately 211 percent to shareholders.