Rights Issue - Intimation of In-Principle approval received from Stock Exchanges.
AVANTEL · price
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Avantel Limited has received in-principle approval from both BSE and NSE to undertake a Rights Issue of fully paid-up equity shares, as of April 30, 2025. This follows an earlier announcement dated April 26, 2025. The Board of Directors will meet on May 1, 2025 to finalise key details such as the record date, issue price, and entitlement ratio. No pricing or ratio details have been disclosed yet in this filing.
A rights issue allows existing shareholders to buy additional shares in proportion to their current holdings, which can dilute shareholding but raise fresh capital for the company. Investors should watch for the Board's May 1 meeting for the final price, ratio, and record date, as these will determine the actual cost and dilution impact.