Indian Infotech & Software Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/05/2025 ,inter alia, to consider and approve Pursuant to Regulation ....
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Awaiting price reaction for this filing.
Indian Infotech & Software Ltd has called a Board Meeting on 13th May 2025. The Board will consider withdrawing its earlier application filed with BSE for a preferential issue of warrants. Instead, the company plans to raise funds through a Rights Issue. The Board will also appoint a Registrar and a Banker for this Rights Issue. The trading window for designated persons is already closed since 1st April 2025 and will reopen 48 hours after the Board Meeting, which is also expected to approve the Audited Financial Results for FY ending March 31, 2025.
Shareholders should watch for the Rights Issue announcement next week, which will dilute existing holdings but provide new capital to the company. The shift away from warrants to a Rights Issue gives existing shareholders first right to participate and subscribe proportionally.