Initially, the company will emphasize launching fixed-income products.
The business will be set up under a new venture ‘Novel Jewels Ltd.'
The Wonderla Holidays Ltd stock has delivered a return of 62.15 % over the past five years.
Multibagger Stock Declares Rs 3 per Share Final Dividend for Shareholders
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
The floor price for the two-day OFS is set at ₹225 per share.
Total two-wheeler sales stood at 3,07,696 units last month.
Recommendation: Add; Target Price: Rs 165
The company has recently launched a new brand under name “Nex” to target upscale urban consumers with its premium range of appliances.
Company will also be be focusing on new market segments such as healthcare and water purification.