The allure of multibagger stocks, known for their potential to multiply investments manifold, is undeniable. These financial powerhouses captivate investors worldwide. Legends like Ashish Kacholia, Rakesh Jhunjhunwala, and Mukul Agrawal have built their reputations on uncovering these hidden gems. Their success stories inspire countless individuals to seek their fortunes in the stock market.
Identifying potential multibaggers before they soar is often seen as a complex art, almost a form of financial intuition. Many investors study the strategies of these investment maestros, hoping to gain insights that can propel their portfolios to new heights.
Recently, ace investor Ashish Kacholia made headlines by acquiring a stake in Advait Infratech, a multibagger green hydrogen stock that has already experienced an impressive growth of 244% in 2024.
Which Stock Did Ashish Kacholia Buy and Why?
Ashish Kacholia bought a stake in Advait Infratech, an Indian company specializing in power transmission, substation, and telecommunication infrastructure.
On 4 July 2024, the Board of Directors of Advait Infratech approved the issuance of 288,185 shares to Ashish Kacholia via private placement on a preferential issue basis. These shares, with a face value of Rs 10 each, were issued for cash at Rs 1,388 per equity share. Prior to this, on 30 May, Kacholia had purchased 288,185 shares, or a 2.7% stake in Advait Infratech, bringing his total holding in the company to 5.3%.
While the exact reasons for his increased stake remain undisclosed, several factors likely influenced his decision.
#1 Green Hydrogen Venture
On 4 July 2024, Advait Infratech formed a wholly-owned subsidiary, Advait Energy Holding AS, in Norway. This new subsidiary focuses on strategic collaboration and investments, services, marketing, manufacturing, and the exchange of technical know-how within the green hydrogen ecosystem. Advait Infratech made a 100% initial subscription to the share capital in cash through the ODI route.
Advait Infratech is one of six firms that successfully bid for government incentives aimed at setting up facilities to manufacture electrolysers, critical components for green hydrogen production. The company plans to expand its electrolyser manufacturing capacity to 200 MW per year by 2025.
In 2023, Advait Infratech ventured into green energy by forming a special-purpose vehicle, Greenergy, focusing on electrolyser assembly and manufacturing for hydrogen production, fuel cell supply, and sustainable services like carbon consultancy. Currently, its electrolyser manufacturing plant in Kadi, Gujarat, has a capacity of 120 MW per year, producing 0.3/0.5/1 MW electrolysis cell stacks and 2/4/8 MW modules.
This strategic move into the booming renewable energy sector likely contributed to Ashish Kacholia’s decision to increase his stake in the company.
