Due to non-receipt of minimum subscription, the Rights issue committee members at its meeting held today considered and approved the devolvement of the rights issue
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Awaiting price reaction for this filing.
Annvrridhhi Ventures' rights issue has failed. The company had offered 3.24 crore equity shares at ₹15 per share (including a ₹5 premium over the ₹10 face value) in a 2:1 ratio to existing shareholders, aiming to raise ₹48.60 crores. The issue was open from 28 April to 27 May 2025. Since the company did not receive the minimum subscription required under SEBI rules, the Rights Issue Committee has approved the devolvement of the issue. Shareholders who applied will get their ASBA accounts refunded or unblocked.
This is a negative signal — the company failed to raise the ₹48.60 crores it planned, which reflects weak investor interest or confidence. Existing shareholders who subscribed will get their money back, and the company will likely need to explore alternative ways to raise capital, which could put short-term pressure on the stock.