Share Samadhan soars as subsidiary bags large consulting contract

Share Samadhan hit an upper limit of 20% at Rs 69.86 after the company's subsidiary secured consulting contract for recovery of contingent asset valued at Rs 1,240 crore through litigation funding consulting.

Nyaya Mitra, a subsidiary of Share Samadhan, has secured a contract for litigation funding consulting on emerging claims, including damages valued at Rs 1,240 crore. Operated on a success-fee basis, the final fees for this claim engagement will be linked to the amount successfully recovered or the settlement ratio.

"This contract underscores Nyaya Mitras commitment to facilitating corporate claims and supporting clients in complex cases to assert their legal rights," said Vikash Jain, co-founder and CEO of Share Samadhan.

Share Samadhan is Indias leading platform for unclaimed investment and money retrieval advisory. Through Nyaya Mitra's specialized litigation funding consulting services, Share Samadhan and its subsidiaries provide comprehensive support for investment recovery and strategic legal assistance, empowering clients with tailored solutions to protect and assert their interests in claims.

The company recorded revenue from operations of Rs 983.28 crore and net profit of Rs 391.01 crore for the period as on 31 March 2024.

Share Samadhan's shares entered the stock exchanges on 16 September 2024. The scrip was listed at Rs 73.05, a discount of 1.28% over the initial public offer (IPO) price of Rs 74. Its IPO was subscribed 13.63 times. The issue opened for bidding between 9 September and 11 September 2024. The price band of the IPO was set at Rs 70 to Rs 74 per share.

Powered by Capital Market - Live News