Did you know about a company whose market cap zoomed from Rs 25 lakh to Rs 2,200 crore in two years and then fell to Rs 320 crore in the last eight months?
The company is Global Infratech & Financial , formally this company known as Asianlak Capital & Finance. It does investment in capital and money markets. It also does some activity in infra projects as well into financial advisory services.
Currently, the market cap of this company is Rs 320 crore but year-to-date the stock price has fallen by 85 percent and before the start of the year the market cap of this company was Rs 2,200 crore.
In November 2011 the stock price of the company was only Rs 0.73 and then it went to as high as Rs 93.50 in November 2013 and now the stock is trading around Rs 13.5. So from Rs 0.73 the stock moved to Rs 93.50, in between there was a stock split where the face value came down from Rs 10 to Rs 1.
The stock has moved over 12,700 percent with the stock split even 10 times greater than 12,700 percent, the gain of the stock in those two years. So the market cap in the last 8-9 months has fallen from Rs 2,200 crore- Rs 320 crore.
In June 2012 the stock price was only Rs 0.73 and the market cap was only Rs 26 lakh between January to June 2012 the company went ahead and allotted 2.03 crore shares to various investors and thus the promoter holding in this company came down from 64.5 percent to nearly 8.5 percent which was a drop of the promoter holding in the period between January to June 2012. In October 2012, the company went for a stock split from face value Rs 10 to Rs 1.
The number of shares in June 2011 was 35 lakh and there was a professional allotment which is done to some of the investors and thus the total number of shares went as high as 2.3 crore and then there was stock spilt which took the total number of shares to nearly 23.8 crore.
The total numbers of shareholders remain around 400-500 and the promoter holding after that massive professional allotment which is done it was in June 2011 it was 64.5 percent with the promoters. It came down to 8.6 percent and in the last 8 months, when the stock has been falling 85 percent consistently, in each and every quarter there has been a churn of shareholders which was happening in the promoter entity.
The 7.1 percent, last year, has come down to 1.4 percent. Even at these Rs 320 crore there is no number that could even sustain or indicate how come the valuation is that high. From Rs 2,200 crore-320 crore, but in the last 5 years, the company has done sales of less than Rs 40 crore. The total profit in the last five years is less than Rs 5 crore and so, in no way the numbers actually add up to that massive Rs 2,200 crore and in the last 1 year the stock price has just fallen down.
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Did You Know: Global Infratech's mkt cap zoomed 12,700% in just 2 yrs
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