Infibeam Avenues Limited has informed the Exchange about Conversion of 68,21,82,616 Partly Paid-Up Equity Shares into Fully Paid-Up Equity Shares of the Company upon receipt of the Final Call Money - Rights Issue
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Infibeam Avenues has converted 68,21,82,616 (approximately 68.22 crore) partly paid-up equity shares into fully paid-up equity shares. This conversion took place after the company received the final call money from shareholders who had been allotted these shares under a rights issue. The conversion finalizes the rights issue process, moving these shares from partly paid to fully paid status. The paid-up share capital of the company increases correspondingly as a result. No fresh fundraising or new dilution is happening here; this is the formal completion of an already-announced rights issue.
This is a routine procedural completion of a rights issue and is unlikely to cause any immediate movement in the stock price. Shareholders who paid the final call now hold fully paid shares, and the company's paid-up capital reflects the full amount raised under the rights entitlement.