Bollywood superstar Ajay Devgn has made headlines with his investment prowess, as he invested a whopping ₹2.7 crore in a midcap stock that has surged over 800% in just one year. The actor, known for his roles in blockbuster films like Singham, made the investment through his production house, Panorama Studios.
The midcap stock, which remains unnamed, has seen a remarkable rise in its value, making it a multibagger investment for Ajay Devgn. The actor’s strategic move in the stock market has garnered attention from investors and analysts alike, highlighting his acumen beyond the realm of cinema.
Recently, Panorama Studios International began offering its promoters and non-promoters a preferential issuance of 10 lakh equity shares and 15.41 lakh warrants.
According to a regulatory filing, Ajay Devgn was one of nine investors who contributed ₹24.66 crore to the preferential share allotment. Devgn purchased 1 lakh equity shares of the company for ₹2.74 crore, which is an enormous discount to the closing price of ₹948.40 a share on the BSE on Saturday.
The price of Panorama’s shares has increased by over 176% in 2024 thus far, and by over 255% in just three months. In a single year, the smallcap stock has produced multibagger returns of more than 884%.
Ajay Devgn’s investment in the booming midcap stock showcases his confidence in the company’s potential for growth and success. As the stock continues to perform strongly, Devgn stands to reap significant returns on his investment, further solidifying his reputation as a savvy investor in addition to being a celebrated actor.
Leave a comment