Multibagger stock: BSE-listed Mufin Green Finance shares hit upper circuit; to debut on NSE next week

The rally in Mufin Green shares during the last trading session of the week came after the company received approval for the listing of equity shares on the NSE.

Mufin Green's board is due to meet on November 9 to review and approve the financial results.

Shares of Mufin Green Finance, a small-cap company which is listed on the Bombay Stock Exchange (BSE), are all set for listing on the National Stock Exchange. Ahead of that, its shares on Friday were locked in an upper circuit limit of 5 per cent at Rs 129. 30. A profit booking was seen later in the stock and it slipped to Rs 118.65. Around 2:15 PM, the stock traded at Rs 128 per share.

The rally in Mufin Green shares during the last trading session of the week came after the company received approval for the listing of equity shares on the NSE.

"Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we are pleased to inform you that the Company has received approval for the Listing of its Equity Shares on National Stock Exchange of India Limited with effect from November 6, 2023," it said in a filing on the BSE.

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According to information available on the BSE website, Mufin Green Finance shares have delivered a return of 231 per cent on a year-to-date (YTD) basis. In two years, the equity shares of NBFC which has a market cap of more than Rs 1,900 crore, have delivered a return of more than 2000 per cent.

Mufin Green's board is due to meet on November 9 to review and approve the financial results. The NBFC is focused on financing every element of the EV ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries.

Recently, the company received approval from the Reserve Bank of India (RBI) to operate as a Prepaid Payment Instruments (PPI) issuer. This approval allows the company to launch a comprehensive financial services 'super app'.

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