Letter of offer in connection with the proposed Rights Issue of Avantel Limited

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AVANTEL · price

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Price reactionminutes from the announcement price · days from the prior close

-4.3%Reaction day

₹113.00

prior close

₹109.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-5.6% vs market

Aerospace & Defense peers, median of 19sector+1.3%-5.6% vs sector

On the reaction day the stock moved 5.6 pts less than Nifty Microcap 250 and 5.6 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-4.3+1.3-5.6+1.3-5.6

Next day

-6.2+0.4-6.6-0.1-6.1

-6.2+0.3-6.6+2.9-9.1

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15d

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+43.5+16.0+27.5+29.0+14.6

+42.0+16.9+25.1+34.7+7.3

+15.1+12.5+2.6+17.3-2.1

UpDownMarket · Nifty Microcap 250Sector · Aerospace & Defense peers, median of 19Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Avantel Limited has issued the Letter of Offer for its proposed Rights Issue of up to 2,02,26,100 fully paid-up equity shares of face value Rs. 2 each at an issue price of Rs. 40 per share, aggregating up to Rs. 80.90 crores. The issue is being offered to eligible shareholders in the ratio of 10 rights shares for every 121 existing shares held as on the record date of May 7, 2025. The issue opens on May 15, 2025 and closes on May 28, 2025, with 100% payment due on application. The proceeds are expected to be used as per the objects of the issue disclosed in the Letter of Offer.

Likely market impact

Eligible shareholders can subscribe to the rights shares in the specified ratio to maintain their proportionate ownership. Non-participation would result in dilution of equity stake by approximately 8.3%. Investors should review the objects of the issue and risk factors before deciding to subscribe.