Avantel Limited has informed the Exchange about Copy of Newspaper Publication
AVANTEL · price
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Avantel Limited has submitted copies of newspaper advertisements published on May 12, 2025 in Business Standard (English and Hindi) and Prajasakti (regional) regarding its proposed Rights Issue. The company plans to issue up to 2,02,26,100 equity shares of face value Rs. 2 each at a price of Rs. 40 per share, aggregating up to Rs. 8,090.44 Lakhs (about Rs. 80.9 crore). Eligible shareholders will get 10 Rights Equity Shares for every 121 fully paid-up shares held as on the record date of Wednesday, May 07, 2025. The Rights Issue Committee had approved the Final Letter of Offer on May 05, 2025.
Shareholders as on the record date (May 7, 2025) are eligible to subscribe to the rights issue and can increase their holdings, while non-participating shareholders will see their stake diluted. The issue price of Rs. 40 represents a 20x premium to the face value of Rs. 2, and the company is raising around Rs. 81 crore to fund its growth plans.