As per the exchange data, Madhuri Madhusudan Kela picked up a substantial stake in Niyogin Fintech on Wednesday through a bulk deal.
As per BSE data, Kela – wife of famous investor Madhusudan Kela – picked up 50.20 lakh shares of the company at an average price of ₹61.65. The total cost of the deal was 30.94 crore. At the time of writing on Thursday, the stock was locked in the upper circuit at ₹71.51. The stock has been on a five-session gaining streak.
Taking the current price, Kela’s investment is already up 15% and is worth around ₹35.89 crore. The company’s revenue from operations for the March quarter stood at ₹33.7 crore. The company reported a loss of ₹2.5 crore during the January-March quarter. The fintech is scheduled to release its results for the quarter ended June on August 9.
Price Action: Niyogin Fintech’s share price was up 5% to hit upper circuit at ₹71.51 on Thursday.
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