Outcome of Board Meeting dated 23-06-2025
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Indian Infotech & Software Ltd held a board meeting on 23rd June 2025 and took four key decisions. First, it accepted the resignation of Independent Director Ms. Aksha Bihani (DIN: 08102933), effective close of business hours on 16th June 2025. Second, the board approved a Rights Issue to raise up to Rs. 47 Crores by issuing fully paid-up equity shares to existing eligible shareholders, subject to SEBI ICDR Regulations. Third, it approved the Draft Letter of Offer for this Rights Issue. Fourth, it constituted a three-member Rights Issue Committee headed by Managing Director Mr. Anant Chourasia, with CFO Mr. Bhairu Ratan Ojha and Mrs. Shilpi Chourasiya as members.
The Rs. 47 Crore Rights Issue will raise fresh capital from existing shareholders but is likely to be dilutive if not all shareholders participate. The Independent Director vacancy may require appointment of a replacement to maintain board composition norms, though it does not affect day-to-day operations.