Advik Capital Rights Issue: Know terms, price, open date, close date, ratio and other details
Advik Capital Limited in an exchange filing in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has informed about the meeting of the Board of Directors of the Company - held on September 02, 2023.
Announcing the Outcome of Board Meeting, Advik Capital informed about Terms of the Rights Issue.
"Pursuant to the shareholder approval obtained through postal ballot on May 18, 2023 and Draft Letter of Offer dated July 18, 2023 submitted for obtaining ‘In Principle Approval’ for proposed Right Issue of up to Rs. 49.95 Crore, and ‘In Principle Approval’ received from BSE Limited vide its letter bearing No. LOD/Rights/AB/FIP/446/2023-24 dated August 08, 2023," an exchange filing by Advik Capital said.
Advik Capital Rights Issue: Details
- Total number of securities proposed to be issued: Up to 20,79,60,320 Equity Shares of face value of Rs. 1/- each for an amount aggregating up to Rs. 4,991.04 Lakhs
- Issue Price: Rs. 2.40/- per Equity Share (Including premium of Rs. 1.40/- per share)
- Rights Issue Period
Rights Issue Opening Date: Monday, September 18, 2023
Rights Issue Closing Date: Friday, September 29, 2023
Rights Issue Entitlement Ratio
17 (Seventeen) Equity Shares for every 18 (Eighteen) Equity Shares held by the Eligible Equity Shareholders of the Company as on the record date with the right to renounce.