Latest news with #Avantel
Business Standard
30-05-2025
- Business
- Business Standard
Avantel alltos 2.02 cr equity shares under rights issue
Avantel has allotted 2,02,26,100 equity shares of face value of Rs 2 each on rights basis to the eligible shareholders at an issue price of Rs.40/- per equity share. Consequent to the said allotment, the paid-up equity share capital of the company stands increased to 26,49,61,920 equity shares of Rs 2 each. Powered by Capital Market - Live News
Business Upturn
19-05-2025
- Business
- Business Upturn
Why are Avantel shares up 12% today? Know More
By Aditya Bhagchandani Published on May 19, 2025, 10:16 IST Shares of Avantel Ltd surged 11.76% to ₹136.57 in early trade on May 19 following heightened activity in defence stocks amid reports of emergency procurement by the Indian armed forces. The stock hit a high of ₹139.60, up from its previous close of ₹122.20, reflecting strong investor sentiment in the sector. The rally comes India's armed forces have initiated the process of emergency procurement to replenish ammunition and modernize capabilities. The emergency purchases will include loitering munitions, anti-tank guided missiles, counter-UAV systems, and artillery shells. This procurement can be done up to 15% of the defence modernization outlay, which stood at ₹1.6 lakh crore in the Union Budget. Avantel, which specializes in wireless and satellite communication, defence electronics, radar systems, and network management software, has benefited from this renewed policy focus on defence preparedness. The Nifty India Defence Index has surged 9% so far in May, following an 11.5% gain in April and a 24.6% rally in March. The index had earlier seen a 33% correction between July 2024 and February 2025 but has since rebounded sharply amid escalating geopolitical tensions and strong government backing for domestic defence manufacturing. Investor interest has surged, pushing the combined market capitalization of 18 listed defence firms to a record ₹11.23 lakh crore — up 50% from February's lows. Fund managers also ramped up holdings in April, with notable inflows in Hindustan Aeronautics, Solar Industries, and Mazagon Dock Shipbuilders. With defence remaining a strategic priority and growing global interest in India's military capabilities, stocks like Avantel continue to ride the wave of optimism in the sector. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
03-05-2025
- Business
- Time of India
Avantel to raise Rs 80.90 cr via rights issue to expand manufacturing, service infra
New Delhi: Avantel Ltd, a provider of technology solutions to the defence and communication sectors, has announced plans to raise Rs 80.90 crore through a rights issue. The funds will be directed towards the expansion of manufacturing facilities and infrastructure in Andhra Pradesh and Telangana, including establishing dedicated facilities for the design, development, and production of electronics, antennas, and satellite communication systems. "As per the approved structure, the company will issue 2,02,26,100 fully paid-up equity shares with the face value of Rs 2 each at a price of Rs 40 per share, including a premium of Rs 38. The offer entitles eligible shareholders to receive 10 equity shares for every 121 shares held as of the record date, May 7, 2025," the company said in a statement. The rights issue is scheduled to open on May 15, 2025, and will close on May 22. The board has also indicated that while the issue period may be extended, it will not exceed 30 days from the opening date. Upon full subscription, Avantel's equity base will expand from 24,47,35,820 shares to 26,49,61,920 shares. The investment will also facilitate the creation of Ground Station as a Service (GSaaS) infrastructure, enabling Avantel to provide satellite data reception services and further enhance its capabilities in software-defined radios, communication-on-the-move systems, and antennas for defence and aerospace sectors. Additionally, part of the funds will be used for general corporate purposes. Avantel offers designing, developing, and maintaining communication products, radar systems, and network management software applications, primarily catering to the aerospace and defence sectors.>
Hans India
02-05-2025
- Business
- Hans India
Avantel Secures Rs 17.7 Crore Purchase Order from Bharat Electronics Limited for supply of high-frequency (HF) Software Defined Radio (SDR)
Avantel Limited has received a purchase order worth ₹17.7 crore from Bharat Electronics Limited, further strengthening its commitment to India's self-reliance in the aerospace and defence sectors. The contract entails the supply, installation, and commissioning of 01 KW HF Software Defined Radios (SDRs) for ground and aerospace applications. The order is to be executed by 20th September 2028, and a significant term of the contract includes a Performance Bank Guarantee of 3%. Through this collaboration, Avantel continues to support the Make in India and Atmanirbhar Bharat initiatives, contributing to national security while fostering growth within the domestic defence industry. Bharat Electronics Limited, a Central Public Sector Undertaking under the Ministry of Defence, Government of India, manufactures state of art electronic products and systems for Indian Armed Forces. Siddhartha Abburi, Director, Avantel Limited, stated, 'We are privileged to collaborate with Bharat Electronics Limited on this significant order, which reinforces our shared vision of strengthening India's indigenous defence capabilities. This partnership highlights Avantel's ongoing commitment to innovation and excellence in delivering advanced technological solutions that address the evolving needs of the nation's aerospace and defence sectors. We remain dedicated to contributing meaningfully to the Make in India and Atmanirbhar Bharat initiatives.' Avantel Limited specializes in designing, developing, and maintaining communication products, radar systems, and network management software applications, primarily catering to the aerospace and defence sectors. The company's expertise spans various technological domains, including satellite communications (SATCOM), radar subsystems, Software-Defined Radios (SDRs), and Defence Electronics.
Business Upturn
29-04-2025
- Business
- Business Upturn
Avantel secures Rs 17.7 crore order from BHEL
By Aditya Bhagchandani Published on April 29, 2025, 19:04 IST Avantel Limited announced today that it has received a purchase order worth Rs 17.70 crore (inclusive of taxes) from Bharat Electronics Limited (BEL), a leading public sector enterprise under the Ministry of Defence. In a regulatory filing with BSE and NSE, Avantel stated that the nature of the order is manufacturing-related, and the contract is domestic in scope. The order is scheduled for execution by September 20, 2028. The contract includes a Performance Bank Guarantee of 3%, as per standard terms. Avantel confirmed that the order does not fall under related party transactions, and there is no promoter interest involved with BEL. This strategic order is another step forward in Avantel's growing portfolio of defence sector partnerships, reaffirming its role in supporting India's indigenous defence manufacturing and innovation goals. The announcement has also been uploaded to the company's official website: Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
