On technical parameters, the counter is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Stock Market News: Shares of OK Play India were locked in a 5 percent upper circuit limit of Rs 156.50 apiece after Saint Capital Fund picked up a stake of 5,00,000 shares worth Rs 6.25 crore on the preferential issue. The scrip had a gap-up opening with a gain of 5 percent today. It has outperformed the sector by 5.44 percent.
On technical parameters, the counter is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
According to an exchange filing, the board of directors of OK Play India has approved the issue of up to 25,75,000 fully paid-up equity shares of the company, on a preferential basis, at a price of Rs 125 per equity share.
“Issue of upto 25,75,000 (Twenty Five Lakhs Seventy Five Thousand only ) fully paid-up Equity Shares of the Company, on a Preferential Basis, at a price of Rs. 125/- (Rupees One Hundred Twenty Five only) per Equity Share (including a Premium of Rs. 115/- (Rupees One Hundred Fifteen only) per Equity Share, for a total consideration of upto Rs. 32,18,75,000/-,” the company said.
The board has also allotted shares to Leisure Enterprises LLP, Earthbound Ventures LLP and others. The board has also approved the issuance of up to 10,00,000.
Founded in 1989, OK Play India, is engaged in the business of manufacturing plastic molded Toys, School furniture, outdoor play equipment, point-of-purchase products, automotive components and e-vehicles. The company is also the market leader in the field of plastic fuel tanks for heavy commercial vehicles.