Ace Investor: Ashish Kacholia has increased his stake in this home appliance company; do you have it?

In a year, the shares of the company are up by more than 62% in comparison with the BSE Small Cap index which is down by more than 1%.

Inflame Appliances is an established prominent manufacturer of LPG stove/Cooktops and sheet metal components. The present facilities at Inflame include a metal pressing unit and producing metal Cooktops, glass cooktops, built-in hobs, and chimneys.

In a press release on 9 July, the company announced that it has considered and allotted 6,61,000 Equity Shares of the face value of Rs 10 each, for cash, at a price of Rs 382 per Equity Share (including a share premium of Rs 372 per Equity Share) aggregating to Rs 25,25,02,000 on preferential basis to Non-Promoters/Public. Consequently, the issued, subscribed, and paid-up equity share capital of the company stands increased to Rs 7,31,10,000 from Rs 6,65,00,000. Equity shares allotted on the preferential basis shall rank pari-passu with the existing equity shares of the company in all respects. 

These shares have been allotted to the czar of small-cap stocks in India, ace investor Ashish Kacholia, along with some other HNI investors. As per the BSE filing, Ashish Kacholia has picked up 3,08,000 shares at an average price of Rs. 382 per share. Thus, he has invested Rs. 11,76,56,000 in Inflame Appliances.

On 4 July the company announced that it has received a huge order for 45,000 Kitchen Appliances of various models from one of the major and renowned company Hindware Home Innovation Limited, who are owning the prestigious brand Hindware Appliances.

The company has a 52-week high of Rs 499.80 and a 52-week low of Rs 182. On Friday, 15 July 2022, the scrip ended at Rs390, a gain of 1.40%.