Avantel Limited has informed the Exchange that Board of Directors at its meeting held on May 01, 2025, has decided to issue equity shares on rights basis in the ratio of 10 : 121, i.e 10 Equity Shares for every 121 Equity Shares held. Issue Price is 40 per share.
AVANTEL · price
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Avantel Limited's Board, at its meeting on May 1, 2025, approved a Rights Issue of up to 2,02,26,100 fully paid-up equity shares at ₹40 per share (face value ₹2 + premium ₹38). The ratio is 10 Rights Shares for every 121 existing shares held, taking the total issue size to about ₹80.90 crores. The record date is set for May 7, 2025, and the rights subscription window will run from May 15 to May 22, 2025. Post-issue, the company's outstanding shares will rise from 24.47 crore to 26.49 crore (assuming full subscription). Full payment of ₹40 is required at the time of application itself.
Eligible shareholders as of the May 7, 2025 record date can subscribe to the rights entitlement or renounce it. If they choose not to participate, their effective shareholding will be diluted by roughly 8.3% post-issue. Shareholders should weigh the ₹40 issue price against prevailing market price to assess whether subscribing makes economic sense.