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Stock Report
Quest Softech India Ltd fixes Jan 8, 2024 as record date for 8:5 rights issue
Posted On : 2024-01-01 22:41:03( TIMEZONE : IST )
The Board of Directors of Quest Softech (India) Limited, at their meeting held today, have, approved the issue of 1,60,00,000 Equity Shares (Partly paid up) of face value of Rs. 10/- each at an issue price of Rs. 30/- per Equity Share (including premium of Rs. 20/- per Equity Share) aggregating to Rs. 4800 lakhs in 3 tranches (including application money) to all the existing equity shareholders of the Company on rights basis ("Rights Issue".)
The board also considered and approved the following terms of Rights Issue:
Instrument: Equity Shares (Rs. 10/- paid -up per Equity Share) of face value of Rs. 10/- each.
Total number of Equity Shares (Partly paid-up) and Rights Issue Size: 1,60,00,000 Equity Shares (Partly paid up) of Rs. 10/- each aggregating to an amount of Rs. 4800 lakhs* in total. Considering the amount payable on Application (Rs. 10/- per Equity Shares) the Rights Issue amount on Partly Paid Shares, assuming fill subscription will be Rs. 16,00,00,000/- in 3 tranches (including application money). * Assuming Full Subscription and receipt of all Call Monies with respect to Rights Equity Shares.
Right entitlement Ratio: 8 (Eight) Equity Shares for every 5 (Five) Fully Paid Equity Shares held by the Existing Shareholders on the Record Date.
Rights Issue Price: Rs. 30/- per Rights Equity Share (including a premium of Rs. 20/- per Rights Equity Share).
Rights Issue Tranches: An amount of Rs. 10/- per Rights Equity Share (including a premium of Rs. 6.67 per Rights Equity Share) to be paid on Application and balance to be paid in 2 calls as determined by our Board at its sole discretion from time to time.
Record Date: It will be January 08, 2024 (Monday).
Shares of Quest Softech (India) Ltd was last trading in BSE at Rs. 77.16 as compared to the previous close of Rs. 79.65. The total number of shares traded during the day was 49778 in over 204 trades.
The stock hit an intraday high of Rs. 80.99 and intraday low of 75.67. The net turnover during the day was Rs. 3788083.00.
