1.The board of directors took on records the queries received from BSE Ltd. (stock Exchange) on existing Preferential Issue In-principle application filed by company, accordingly board ....
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The board of Indian Infotech & Software Ltd met on 13th May 2025 and decided to withdraw its pending application with BSE for a preferential issue of warrants, effectively cancelling that plan after BSE raised queries. Instead, the board approved a fresh fund-raising plan through a Rights Issue of equity shares worth up to Rs. 49 Crore to eligible existing shareholders. The issue price, ratio, and number of shares will be finalised later when the record date is fixed. The MD and Company Secretary were authorised to appoint a registrar and banker for the rights issue.
Shareholders may get an opportunity to subscribe to additional equity shares via the rights issue, which could lead to dilution. The cancellation of the warrants preferential issue removes a previously planned capital route but signals a shift towards a more transparent, shareholder-inclusive fundraising method.