Small-cap stock under ₹50 hits upper circuit despite volatile Indian stock market

Ok Play India share price was locked at 5% upper circuit of ₹18.38 apiece on the BSE Thursday after the company announced fundraising plans. The small-cap stock hit the upper circuit limit for the third consecutive session, gaining 15% in three days.

The toy manufacturing company, Ok Play India said that its board of directors will consider raising funds on January 14.

“...a meeting of Board of Directors of the company will be held on Tuesday, 14th day of January, 2025 to inter alia; consider and approve the proposal for raising funds by way of issue of one or more instruments including equity shares, convertible or Non-Convertible securities of any description or warrants, through preferential issue, private placements or any other methods or combination thereof as may be permitted under applicable laws,” Ok Play India said in a BSE filing on January 9.

However, the fundraising will be subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company, it added.

Earlier this week, the company had announced completion of its expansion.

In an exchange filing on January 7, Ok Play India said it completed an expansion program with the addition of Blow and Injection molding machines along with the balancing equipment and moulds etc. at its manufacturing facility located in Haryana.

This capacity enhancement is expected to result in an increase in the production capacity of toys, playground equipment and children furniture by over 300%, it added.

Ok Play India Stock Price Trend

Ok Play India shares have rallied 45% in one month and 27% in one year. In the past two years, Ok Play India share price has delivered multibagger returns of over 263%. The small-cap stock has jumped by a staggering 1,000% in five years.

Ok Play India stock hit a 52-week high of ₹21.50 apiece on February 23, 2024, and hit a 52-week low of ₹10.62 apiece on November 18, 2024.

At 12:35 PM, Ok Play India shares were still locked at 5% upper circuit of ₹18.38 apiece on the BSE.