This stock from the portfolio of Ashish Kacholia delivered 400% returns in a year!

An investment of Rs 1 lakh in this stock last year would have turned to Rs 5 lakh today!

Genesys International Corporation Ltd, a provider of advanced mapping, survey and geospatial services, has given its investors multibagger returns in the last 1 year.

During this period, the company’s share price has appreciated steadily from Rs 111.05 on 15 June 2021 to Rs 556.50 on 14 June 2022, an increase of 401% YoY.

The company delivers expert services in Geographical Information System (GIS) and Geospatial Engineering domain. It offers solutions revolving around state-of-the-art remote sensing; LiDAR, aerial survey, photogrammetry and ICT-based e-governance solutions.

Today, the company announced that it has secured funding of Rs 250 crore from Malabar India Fund and other marquee investors. This proposal received approval at the meeting of the Board of Directors held yesterday.

Of the total funding, Malabar India Fund has invested Rs 100 crore via equity and warrants. The remaining funding has been secured from marquee investors such as Sundar Iyer, Mathew Cyriac, Inder Soni, Vijay Karnani, Ashish Nanda, Kamlesh Shah, Sanjana Deepak Gupta and Abhinaya Chakravarthi.

Why was the funding raised?

Owing to the new geospatial policy launched by PM Modi, the company set up a state-of-the-art 3D mapping platform. The proceeds from the funding shall be used for the development of its mapping capability and to bolster its Content as a Service platform.

The company intends to use the proceeds from the funding to target sectors such as utilities, big tech, smart cities, and digital & e-commerce.

While the shares of Genesys International have given multibagger returns in the last one year, the majority of this leap was concentrated in the last 6 months. The stock was re-rated when ace investor Ashish Kacholia bought shares of Genesys International in the December quarter. Moreover, the demand for geospatial services is on the rise, and there are not many players in this space, giving Genesys International an edge.

Around 9.30 am, the shares of Genesys International Corporation Ltd hit an upper circuit of 5%, which was set at Rs 584.30. Post this, the trading activity came to a halt.