Indian Infotech & Software board approves Rs 46.45 crore rights issue; record date set for July 28
The proposed rights issue involves the issuance of 42.23 crore equity shares at an issue price of ₹1.10 per share (including a premium of ₹0.10), with a face value of ₹1 each. The issue is in line with earlier approvals and has now received in-principle approval from BSE.
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Key highlights of the rights issue:
Particulars Details Type of securities Fully paid-up equity shares Mode of issuance Rights issue Total shares to be issued 42,23,47,590 equity shares Issue price ₹1.10 per share (₹1 face value + ₹0.10 premium) Issue size ₹46,45,82,349 Record date July 28, 2025 Rights entitlement ratio 1 equity share for every 3 equity shares held Issue opens on August 6, 2025 Market renunciation ends August 8, 2025 Issue closes on August 13, 2025 (subject to extension, max 30 days) Outstanding shares before issue 126.70 crore equity shares Outstanding shares after full subscription 168.93 crore equity shares
The board also approved the Letter of Offer, Abridged Letter of Offer, Entitlement Letter, and the Application Form for the rights issue. The rights entitlement will be credited in demat accounts of eligible shareholders prior to the issue opening date.
The board has delegated necessary authorities to the Managing Director, CFO, and Company Secretary for handling documentation and filings related to the issue, including coordination with stock exchanges, depositories, and registrars.
BSE, in its in-principle approval, emphasized compliance with all applicable SEBI regulations, proper disclosures in offer documents, and operational requirements such as dispatch of letters and basis of allotment.
The board meeting for these decisions commenced at 6:30 PM and concluded at 7:30 PM on July 22, 2025.
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