Advik Capital board approves 19:5 rights issue at Rs. 2.85 per share

The Board of Directors of Advik Capital Limited (the "Company") at its meeting held today, March 4, 2022 have, considered and approved the terms of the Rights Issue for up to an aggregate amount of up to Rs. 50 Crore (Rupees Fifty Crore).

Total number of securities proposed to be issued - Up to 17,43,19,680 Equity Shares of face value of Re. 1/- each for an amount aggregating upto Rs. 4,968.11 Lakhs.

Right entitlement Ratio - 19 (nineteen) Equity Shares for every 5 (five) Equity Shares held by the Eligible Equity Shareholders of the Company as on the record date with the right to renounce.

Record Date - Friday, March 11, 2022 for the purpose of determining the shareholders entitled for Rights Issue ("Eligible Equity Shareholders")

Issue Price - Rs. 2.85/- per Equity Share (including premium of Rs. 1.85/- per share)

Right Issue Opening Date - Monday, March 21, 2022
Last Date for on Market Renunciation of Rights Entitlement - Friday, April 1, 2022
Right Issue Closing Date - Thursday, April 7, 2022

Shares of Advik Capital Ltd was last trading in BSE at Rs. 3.69 as compared to the previous close of Rs. 3.52. The total number of shares traded during the day was 2693198 in over 697 trades.

The stock hit an intraday high of Rs. 3.69 and intraday low of 3.35. The net turnover during the day was Rs. 9608339.00.

Source : Equity Bulls

Keywords

AdvikCapital INE178T01024 FundRaising RightsIssue RecordDate