Latest news with #RightsIssueCommittee
Mint
15-07-2025
- Business
- Mint
Infibeam Avenues concludes Rights Issue worth ₹700 crore, shares oversubscribed 1.4 times
Fintech company Infibeam Avenues has announced the completion of its ₹ 700 crore rights issue, which was oversubscribed 1.40 times. The rights issue was structured in a 67:267 ratio at ₹ 10 per share, including a premium of ₹ 9 per share. The company in an exchange filing on Tuesday stated, "In terms of the Letter of Offer dated June 19, 2025, the Rights Issue opened on Thursday, July 03, 2025, and closed on Friday, July 11, 2025 with an over subscription of 140% i.e. 1.40 times of the total Rights Issue Size of Rs. 69,998.57 lakhs. It further added, 'The Rights Issue Committee of the Company at its meeting held today, i.e. July 15, 2025, has considered and approved the allotment of 69,99,85,723 Partly paid up Equity Shares at an issue price of Rs. 10/- per Rights Equity Share including a share premium of Rs. 9/." Notably, ₹ 5 per share, which includes a premium of INR 4.50, has been received on application. The remaining amount will be payable on the final call as determined by the Board or Committee at their sole discretion, from time to time, the company informed. Infibeams Avenues plans to use the net proceeds from the rights issue towards expanding RediffPay to support UPI and broader digital financial services, developing RediffOne, investing in other acquisitions and establish a distributed network of data center capacity for edge computing across India. Speaking on the rights issue, Vishal Mehta, Chairman and Managing Director of Infibeam Avenues said, 'We are sincerely grateful for the overwhelming support and confidence shown by our shareholders. Their belief in our strategic vision motivates us to continue building innovative, AI-powered platforms and solutions for India and beyond." He further added, "the funds raised will further strengthen our balance sheet and enable us to invest in key growth areas, including AI-driven products, digital payment solutions, and selective acquisitions aligned with our vision.'
United News of India
30-06-2025
- Business
- United News of India
OVERWHELMING RESPONSE TO SEPC LIMITED RIGHTS ISSUE OF 35,00,00,000, PARTLY PAID-UP EQUITY SHARES AGGREGATING TO RS. 350.00 Crores
Press Releases » PNN SEPC Limited's ₹350 crore rights issue closes oversubscribed, signaling robust investor trust. Chennai (Tamil Nadu) [India], June 28: SEPC Limited today announced that it has achieved successful closure of Rights Issue of 74,35,19,173 (Seventy Four Crores Thirty-Five Lakhs Nineteen Thousands One Hundred & Seventy-Three ) Partly paid-up Equity Shares aggregating to ₹ 350 Cr. having issue price of ₹ 10/- per Equity Share (including a share premium of ₹ nil per share) (the 'issue price') on a rights basis to the eligible equity shareholders of our Company closed successfully on June 23, 2025. The Payment Schedule for the issue is as follows: Amount Payable per Rights Equity Share i.e. Issue Price Face value (₹) Premium (₹) Total On Application 5.00 Nil 5.00 On First and Call (as determined by our Board in consultation with Rights Issue Committee) 5.00 Nil 5.00 The Rights issue was oversubscribed by 2.12 times. SEPC Limited, is one of the leading EPC player in Water and Municipal Services, Roads, Industrial, and Mining sectors, announced today the successful closure of the issue of 74,35,19,173 (Seventy-Four Crores Thirty-Five Lakhs Nineteen Thousand One Hundred & Seventy-Three) partly paid−up Equity Shares (including a share premium of ₹ nil per share) (the 'issue price') on rights basis to the eligible equity shareholders (the 'Rights Issue') which was launched on June 09, 2025. The issue resulted into subscription of 74,35,19,173 shares resulting into oversubscription by 2.12 times. The issue period was from June 09, 2025, to June 23, 2025. The issue size was 35,00,00,000 (Thirty-Five Crores) partly paid-up Equity Shares aggregating to Rs. 350 Cr. having issue price of Rs. 10/- per Equity Share (including a share premium of ₹ nil per share) (the 'issue price') on a rights basis to its eligible equity shareholders in the ratio of 11 (Eleven) Rights Equity Share for every 50 (Fifty) fully paid-up Equity Shares held as on record date i.e. May 23, 2025. The payment schedule for this issue being partly paid up will be 50% i.e. ₹ 5/- (per share) payable with the Application and balance 50% will be payable on First and Final call. Funding for Payment of Non-Convertible Debentures including redemption and interest. Repayment/Pre-payment, in full or part, of certain borrowings availed by the Company. Funding for increasing the additional Margin of Non- Fund Based Limits. To augment the existing and incremental working capital requirement of our Company. General Corporate Purpose The allotment and listing formalities of the new shares on the BSE and NSE are expected to be completed on or about Friday, 27th June, 2025 and Tuesday, July 08, 2025 respectively. Commenting on the success of the Rights Issue, Shri Mr. Abdulla Mohammad Ibrahim Hassan Abdulla, Chairman and Non-Executive Director of SEPC Limited, said, 'I express my sincere thanks to our dear and esteemed shareholders for participating in this Rights Issue and making it a new and proud landmark in the history of India's capital market. Our shareholders have always been our biggest source of strength. Our decades-old relationship based on trust has consistently spurred us to achieve more. We are delighted and humbled by their extraordinary show of confidence in the future of SEPC. If you object to the content of this press release, please notify us at We will respond and rectify the situation within 24 hours.
Business Upturn
25-06-2025
- Business
- Business Upturn
Exicom Tele-Systems to raise up to Rs 260 crore via Rights Issue
Exicom Tele-Systems has announced key decisions following its board meeting held on June 25, 2025. The board approved raising up to ₹260 crore through a rights issue of equity shares. The issue will be offered to existing shareholders, with the final terms—such as price, entitlement ratio, record date, and payment structure—to be decided by a newly formed Rights Issue Committee comprising three directors. In a parallel move, the company also approved converting an outstanding unsecured loan of approximately ₹283.20 crore, including interest, into equity shares in its wholly owned subsidiary, Exicom Power Solutions B.V., based in the Netherlands. This conversion is intended to ease interest-related cash outflows and improve the liquidity and working capital position of the subsidiary, which operates in the electric vehicles sector. The transaction will be carried out in tranches, subject to regulatory approvals under the Foreign Exchange Management Act. The shares in the Dutch entity will be issued at a par value of €1 per share. No fresh cash outflow is involved as the move reflects a reclassification of existing financial exposure from debt to equity. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
25-06-2025
- Business
- Business Upturn
Why Exicom shares surge 15% sharply today? Details here
Exicom shares rallied 15% after the company announced key financial decisions following its board meeting on June 25, 2025. As of 1:56 PM, the shares were trading 14.29% higher at Rs 207.99. The board approved raising up to ₹260 crore through a rights issue of equity shares. This offer will be extended to existing shareholders, with the exact terms—including issue price, entitlement ratio, record date, and payment structure—to be finalized by a newly formed Rights Issue Committee. In another move, the board cleared the conversion of an unsecured loan of approximately ₹283.20 crore (including interest) into equity shares of its wholly owned subsidiary, Exicom Power Solutions B.V., based in the Netherlands. The subsidiary operates in the electric vehicle segment. The conversion will take place in tranches and is subject to regulatory approvals under the Foreign Exchange Management Act (FEMA). Shares will be issued at a par value of €1 each. The transaction will not require fresh cash outflows and is aimed at improving liquidity and reducing interest burden at the subsidiary level. 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. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Mint
20-06-2025
- Business
- Mint
Infibeam Avenues Rights Issue: Small-cap stock up 3% as rights issue record date, ratio, price, other key details out
Infibeam Avenues share price rallied over 3% on Friday after the company approved the launch of rights issue to raise up to ₹ 699.99 crore. The small-cap stock gained as much as 3.54% to ₹ 22.22 apiece on the BSE. The Rights Issue Committee of Infibeam Avenues, at its meeting held on June 19, approved raising funds of up to ₹ 6,99,98,57,230 through the rights issue. Infibeam Avenues' promoter group has announced its participation in the company's Rights Issue. 'The Promoter and Promoter Group have confirmed that they will subscribe to the rights entitlements to the full extent and may renounce them, in full or in part, only in favour of members of the Promoter and Promoter Group. They also intend to subscribe to additional shares and any unsubscribed portion of the issue, subject to compliance with minimum public shareholding norms,' Infibeam Avenues said in a release. Infibeam Avenues also fixed the Record Date for the Rights Issue of equity shares of the company. 'This Rights Issue offers our loyal shareholders a meaningful opportunity to participate in the company's next transformative phase. The capital raised will drive innovation, scale, and strategic expansion — in lockstep with our investor community,' said Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd. Here are key details of Infibeam Avenues Rights Issue: Rights Issue Dates: Infibeam Avenues Rights Issue will open on Thursday, July 3, 2025, and close on Friday, July 11, 2025. The last date for on-market renunciation of rights entitlements is Monday, July 7, 2025, and for off-market renunciation, it is Thursday, July 10, 2025. Total Rights Issue Shares: Infibeam Avenues rights issue comprises 69,99,85,723 partly paid-up equity shares of face value ₹ 1 each. Rights Issue Price: The issue price for the Infibeam Avenues rights equity shares is ₹ 10 per share (including a premium of ₹ 9 per share). Rights Issue Payment Schedule: The amount payable will be made in two tranches — ₹ 5 per share on application ( ₹ 0.50 towards face value and ₹ 4.50 towards premium), and the remaining ₹ 5 on a final call to be determined by the Board or the Rights Issue Committee. Rights Issue Size: The total size of Infibeam Avenues Rights Issue is ₹ 6,99,98,57,230. Rights Issue Record Date: The record date to determine eligible shareholders for Infibeam Avenues Rights Issue is June 26, 2025. Eligible Rights Entitlement Ratio: Infibeam Avenues Rights Issue ratio is 67:267, which means shareholders will be entitled to 67 rights equity shares for every 267 fully paid-up equity shares held on the record date. Outstanding Equity Shares: Assuming full subscription, the total outstanding equity shares of the company after the Rights Issue will increase to 3,48,94,81,069 from 2,78,94,95,346. At 11:25 AM, Infibeam Avenues share price was trading 1.40% higher at ₹ 21.76 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
