Announced Mon, 20 Jul · 14:56 IST
Anant Raj invests Rs 74.86 cr in wholly owned subsidiary Ashok Cloud
Strategic Transactions View source PDF
ANANTRAJ · price
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Price reaction · full curve 14 horizons · vs prior close
+2.6%1-day move
₹592.85
prior close
₹600.30
base price
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AI summary
Anant Raj Limited will invest about Rs 74.86 crores in its wholly owned subsidiary Ashok Cloud Private Limited through a rights issue. The company will subscribe to roughly 37.43 crore equity shares at Rs 2 face value. ACPL runs a data centre and cloud business with nil turnover in the last three financial years and a net worth of about Rs 4.39 lakhs. Post-investment, Anant Raj will continue to hold 100 percent in ACPL. The funds will be used to develop data centres and cloud operations.
Likely market impact
Capital infusion into wholly owned data centre arm; ownership stays at 100 percent so no open offer or dilution for shareholders.