Multibagger Tech Stocks: Ace investor Porinju Veliyath picks up 5.69% stake in multibagger tech stock via block deal
According to the block deal data available with the exchanges, Porinju V Veliyath has bought 5.17 lakh shares in the company, while Anjana Bhutna sold the same number of shares through open market transactions.
Edvenswa Enterprises is an information technology solutions provider that specialises in corporate innovation through rapid prototyping and then helps them to rapidly expand by building software applications of scale.
Its clients include large and medium enterprises across sectors such as healthcare and life sciences, supply chain and logistics, banking and financial services, energy, education, and environment.
The company is majority owned by promoters with 72.14% stake and public shareholders have the rest of the stake at 27.8%. Retail investors make up for the majority of the public shareholding with almost 17% stake.
On Wednesday, the company’s stock was locked in the upper circuit at 5%. In the last one year period, the shares have surged by a massive 167%.
For the recent December quarter, Edvenswa Enterprises has reported income from operations of Rs 12.3 crore, while profit after tax stood at Rs 1.46 crore.As per the latest corporate shareholdings filed, Porinju V Veliyath publicly holds 16 stocks with a net worth of over Rs 151.4 crore.
The ace investor is known for hunting lesser known stocks in the market. Known as “Smallcap Czar”, his portfolio mostly comprises smallcap stocks. Some of the top holdings of his portfolio include Orient Bell, Som Distilleries, Zee media, Duroply Industries among others.
Veliyath is the founder of Equity intelligence (EQ), which offers portfolio management and alternate investment services. Before founding EQ, he had a professional career for a decade with two financial services firms, Kotak Securities and Parag Parikh Financial Services.
