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Indian Infotech & Software Ltd's board has approved the terms of its proposed rights issue, raising up to ₹47 crores. The company will issue 42.23 crore equity shares at ₹1.10 each (face value ₹1.00 plus ₹0.10 premium), in a 1-for-3 ratio for existing shareholders. The record date is set for 28th July 2025, with the issue opening on 6th August and closing on 13th August 2025. Post-issue, outstanding shares would rise from 126.70 crore to 168.94 crore assuming full subscription. BSE has granted its in-principle approval for listing of the new shares.
Eligible shareholders must hold shares by 28th July 2025 to receive rights entitlements. If they don't subscribe or renounce, their stake will dilute by roughly 25%. Shareholders should weigh the opportunity to buy more shares at ₹1.10 versus the potential dilution impact.