Finalization of Basis of Allotment of Equity Shares issued pursuant to Right Issue
Awaiting price reaction for this filing.
The Board of Avasara Finance has approved the allotment of 1,00,01,800 equity shares at Rs 10 per share (face value Rs 10) under its Rights Issue, which was oversubscribed at 187.22% of the issue size. Total issue size stands at Rs 1,000.18 lakhs, with subscriptions worth Rs 1,872.52 lakhs received. Post-allotment, the company's paid-up share capital rises from 50,00,900 shares to 1,50,02,700 shares, tripling the equity base. The shares were issued at par, meaning no discount to the face value was offered.
The share count triples, which will dilute existing shareholders' stake unless they fully participated in the rights issue. Oversubscription of 187% signals strong investor interest in the rights offer, though the lack of any discount may have limited additional value capture for non-participating shareholders.