Crescentis Capital plans Rights Issue to raise up to Rs 80 crore
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 2.2 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Crescentis Capital filed a Draft Letter of Offer for a proposed Rights Issue of equity shares of face value Rs 10, aiming to raise up to Rs 80 crore assuming full subscription. Exact issue price, ratio and record date are yet to be filled in. The offer will go to eligible shareholders subject to regulatory approvals. Promoters are Dr Bhaskara Rao Bollineni and Mr Bhavanam Ruthvik Reddy.
Eligible shareholders will get rights entitlement; final terms like price and ratio are not yet disclosed.