Raising of fund through right issue.
Price
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Awaiting price reaction for this filing.
Indian Infotech & Software Ltd's board, at a meeting on 13th May 2025, approved a plan to raise funds through a Rights Issue of equity shares worth up to Rs. 49 Crores from existing eligible shareholders. The company has also decided to withdraw its earlier pending application for a preferential issue of warrants and will not proceed with that route. The issue price, ratio, number of shares, and record date have not yet been fixed and will be decided in a future board meeting. The Managing Director and Company Secretary have been authorised to appoint a Registrar and Banker for the rights issue.
Shareholders may need to contribute additional capital if they wish to maintain their stake when the rights issue is launched, though key details like price and ratio are still pending. The cancellation of the warrant preferential issue and shift to a rights issue could dilute shareholding, and the stock may see short-term volatility around the record date announcement.