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Intellivate Capital Venture Shares Hit 5% Upper Circuit on Acquiring 2 Lakh Shares of Boutonniere Hospitality

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Shares of Intellivate Capital Venture Ltd hit a 5% upper circuit on 26 December after the company announced acquiring 2,04,030 Equity Shares of Boutonniere Hospitality Pvt Ltd.

In its regulatory filing, the company said that it has acquired 2,04,030 fully paid-up equity shares that have a face value of Rs 10 each through private placement basis at a price of Rs 135 apiece that includes a premium of Rs 125 per share from a wholly-owned subsidiary of the company, Boutonniere Hospitality Pvt Ltd.

As of 30 September, the company’s promoters hold a 49.54% stake in the company, whereas the retail shareholders have a 50.47% stake.

In its quarterly report for July-September, the company reported an 18,858% year-on-year increase in its net profit to Rs 0.91 crore from Rs 0.0048 crore reported in the same quarter of the last year.

The revenue during the quarter stood at Rs 36.29 Crore, a 2,949% YoY increase from Rs 1.19 crore reported in the same quarter of the previous fiscal year.

The company provides funding to businesses in the information technology, financial services, and media and entertainment sectors, along with advisory services on various financial and corporate issues.

At 3:30 pm, the shares of Intellivate Capital Venture Ltd closed 4.99% higher at Rs 116.30 on NSE.

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