Rights Issue Committee has approved the allotment of Equity Shares on Rights basis .
EXICOM · price
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The Rights Issue Committee of Exicom Tele-Systems has approved the allotment of 1,81,40,840 fully paid-up equity shares (face value ₹10 each) at an issue price of ₹143 per share, including a premium of ₹133 per share. The total amount raised from the Rights Issue is approximately ₹259.4 crore. Following this allotment, the company's paid-up equity share capital has increased from ₹120.94 crore (12.09 crore shares) to ₹139.08 crore (13.90 crore shares), representing roughly a 15% increase in the share count. The allotment was finalized in consultation with the registrar MUFG Intime India and approved by NSE as the designated stock exchange.
The company has successfully completed its Rights Issue and raised fresh capital, which may be used for expansion or debt reduction. Shareholders who did not subscribe to the rights entitlement will see their holding diluted by approximately 15%, which could weigh on the stock price in the short term.