Small-cap stock under ₹25 jumps 5% after THIS update on rights issue
Infibeam Avenues share price jumped over 5% on Monday after the company shared an update regarding its rights issue. Infibeam Avenues shares rallied as much as 5.13% to ₹ 22.95 apiece on the BSE.
Infibeam Avenues said its Rights Issue Committee will meet on 19 June 2025 to consider and approve various terms of the rights issue. It will discuss and finalise rights issue record date, price, entitlement ratio and other terms.
'... the meeting of the Rights Issue Committee is scheduled to be held on Thursday, June 19, 2025 inter alia to consider discuss and approve various terms and conditions of the Rights Issue including determination of the Rights Issue price, Record Date and Rights Entitlement ratio and other matters incidental or connected therewith and to consider other business items, if any,' Infibeam Avenues said in a regulatory filing on June 16.
Earlier on June 09, Infibeam Avenues said its Rights Issue Committee at its meeting considered and approved the Draft Letter of Offer in relation to the Rights Issue of the company to be filed with BSE and National Stock Exchange of India (NSE) for their in-principle approvals.
The board of directors of Infibeam Avenues on May 9 had approved raising of funds through issue of equity shares having face value of Re 1 for an aggregate amount of ₹ 700 crores on Rights Issue.
Infibeam Avenues share price has gained 20% in one month, and rallied 26% in three months. However, the small-cap stock has fallen 13% on a year-to-date (YTD) basis, and has dropped 27% in one year. Infibeam Avenues shares have delivered strong returns over the long term, as the stock has jumped 55% in two years and 85% in five years.
At 3:05 PM, Infibeam Avenues share price was trading 3.53% higher at ₹ 22.60 apiece on the BSE.
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