OK Play India Ltd shares rose around 4.9% on December 9 to trade at around Rs 18.37, as seen at 2.20 pm. This comes ahead of its Board of Directors' meeting on January 14 to discuss a possible fundraise.
A meeting of the Board of Directors of the company is set to be held on Tuesday, January 14, to consider and approve the proposal for raising funds trough the issue of one or more instruments. This includes equity shares, convertible or non-convertible securities of any description or warrants, through preferential issue, private placements or any other methods/combination thereof.
OK Play India had also recently announced the successful completion of its expansion program. This expansion involved the addition of new Blow and Injection molding machines, along with supporting equipment and molds, to its manufacturing facility in Haryana.
The company anticipates that this capacity expansion will significantly boost production capabilities for toys, playground equipment, and children's furniture, leading to an over 300% increase in output. This increased capacity is expected to enable Ok Play India to effectively meet the growing market demand and enhance operational efficiencies.
OK Play India shares had not registered any notable returns in the past one year. In the past one month, the stock rose by just over 4 percent. In the last six months, it rose only 2 percent.
For Q2FY25, the company had registered a consolidated total income of Rs 37.94 Crore, marking a decline of 4.69 percent on a year-on-year basis. Its operating profit stood at Rs 4.58 Crore, while operating margin stood at 12.07 percent (0.94 percent increase).
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