Avantel’s Rights Bonanza: 10 New Shares for Every 121 Held-Grab Yours at a Discounted ₹40!

Avantel Limited’s Board of Directors, in its meeting held today, has approved a rights issue to raise up to ₹809 million through the issuance of fully paid-up equity shares. The rights entitlement ratio has been set at 10 equity shares for every 121 shares held by eligible shareholders as of the record date, which is May 7, 2025. The issue price has been fixed at ₹40 per rights equity share, comprising a face value of ₹2 and a premium of ₹38 per share.

 

The rights issue will open on May 15, 2025, and close on May 22, 2025, with the last date for market renunciations set for May 20, 2025. Shareholders will be required to pay the full issue price at the time of application. Upon full subscription, the company’s outstanding equity shares will increase from 24,47,35,820 to 26,49,61,920.

 

This capital raise is aimed at supporting Avantel’s growth initiatives, including expansion of facilities and funding of innovation projects, further strengthening its position in the defense, communication, and satellite technology sectors. The Letter of Offer will be dispatched to all eligible shareholders in due course.

 

Source: BSE Limited