Stock Market Today: Small-Cap Defence stock remains in focus on Wednesday, 7 May 2025. The said date remains the record date to identify eligible shareholder to be benefit from the rights issue by Avantel. The company through the rights share issue. plans to raise ₹80.90 crore
Details of the Avantel Rights Issue
Avantel has informed the BSE and the National Stock Exchange of India (NSE) that the conditions of the rights issue had been reviewed and approved by the Board of Directors during their May 1, 2025, meeting.
The raised funds will be used to upgrade the infrastructure of the company’s industrial facilities. On May 15, 2025, the rights issue will open, and on May 22, 2025, Avantel Rights issue will end.
According to the press release by Avantel, fully paid-up equity shares with a face value of ₹2/-each are the suggested instruments for fundraising (“Rights Equity Shares”).
Avantel Ltd as per details disclosed on the exchanges plans to issue up to 2,02,26,100 fully paid-up equity shares of face value of ₹2/- each.
As per the company release, the price of these shares would be ₹40 per share, which includes a premium of ₹38. For every 121 shares they already own, eligible shareholders as of the record date (May 7, 2025) will be eligible to receive 10 additional equity shares. ₹8090.44 lakhs, or ₹80.90 crore, is the issue size.
Record date for Avantel Ltd rights issue stands at May 7, 2025, for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue, the small cap defence stock Avantel remains in focus today.
Payment amount for the rights issuance: Upon application, the entire issue fee of ₹40 will be payable.
About small Cap Defence Stock Avantel
Avantel Limited designs, develops, and maintains defense electronics, radar systems, network management software, and wireless and satellite communication equipment for its clients, the majority of whom are in the aerospace and defense sectors.
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