Infibeam Avenues Limited has informed the Exchange regarding Board meeting held on May 09, 2025 has inter-alia considered and approved the raising of funds through Rights Issue.
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Infibeam Avenues' board, at its May 9, 2025 meeting, approved raising up to Rs. 700 crore through a Rights Issue of equity shares with a face value of Re. 1 each, to be offered to eligible shareholders on a record date to be notified later. A Rights Issue Committee has been formed to decide the issue price, entitlement ratio, record date, and payment schedule. The board also approved amendments to the company's Insider Trading and Fair Disclosure codes (effective June 10, 2025) and noted a change in the registered office PIN code from 382355 to 382050.
Shareholders on the record date will get the right (but not obligation) to buy additional shares in proportion to their holdings, which may involve a cash outflow but also lets them increase their stake at the issue price. The stock may see short-term dilution pressure until the issue price and ratio are finalized, though rights issues generally avoid value destruction when priced fairly.