CCAVENUE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Infibeam Avenues Limited's board has approved raising funds of up to Rs. 700 Crores through a Rights Issue of equity shares with a face value of Re. 1 each. Existing eligible shareholders as on a record date (to be notified later) will be offered the shares on a rights basis. A Rights Issue Committee has been formed to decide the issue price, entitlement ratio, record date, and payment schedule. The company has not disclosed the specific purpose of fund utilisation in this filing. Separately, the board also approved amendments to the insider trading code and noted a change in the registered office PIN code from 382355 to 382050.
Existing shareholders will get the right (but not obligation) to subscribe to additional shares in proportion to their current holdings, which could dilute holdings if they do not participate. Rights issues typically price below market, so non-participating shareholders may see value transfer. Short-term stock price may face pressure until the issue price and ratio are announced.