Board approves Rs 49 crore rights issue and Rs 14 crore Ampivo investment

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prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+2.0% vs market

IT Enabled Services peers, median of 80sector+0.0%+2.4% vs sector

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AI summary

The Board approved a rights issue of up to Rs 49 crore for eligible shareholders. Price, ratio and record date are pending. Rs 14 crore of proceeds will fund Ampivo Smart Technologies, mainly for marketing and technology staff. The stake rises from 4.67% to 12.70%, and the company will receive 70% of revenues from customers it onboards. The application for a preferential issue of 1.113 crore shares was withdrawn; a fresh filing is planned.

Likely market impact

Shareholders may need to contribute cash and face dilution. The Ampivo deal adds AgriTech exposure, but terms, valuation and approvals are pending.