Advik Capital rights issue: Price, date, other details in five points

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₹2.40 per equity share and Advik Capital rights issue size is 207,960,320 company shares. This means, company aims to raise ₹49,91,04,768 or ₹49.91 crore ( ₹2.40 x 207,960,320) from this rights offer.

The small-cap stock below ₹5 informed Indian stock market exchanges about the rights issue citing, "Pursuant to the shareholder approval obtained through postal ballot on May 18, 2023 and Draft Letter of Offer dated July 18, 2023 submitted for obtaining ‘In Principle Approval’ for proposed Right Issue of up to ₹49.95 Crore, and ‘In Principle Approval’ received from BSE Limited vide its letter bearing No. LOD/Rights/AB/FIP/446/2023-24 dated August 08, 2023." Here we list out important details in regard to Advik Capital rights issue in five points: 1] Advik Capital rights issue price: The non banking financial company (NBFC) has fixed rights offer price at ₹2.40 per equity share.

2] Advik Capital rights issue date: The offer has opened on 18th September 2023 and it will remain open till 29th September 2023. However, last date for renunciation of shares has been fixed on 26th September 2023.

"Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the Issue Closing Date," Advik Capital said in its latest exchange filing. 3] Rights issue entitlement ratio: 17 (Seventeen) Equity Shares for every 18 (Eighteen) Equity Shares held by the Eligible Equity Shareholders of the Company as on the record date with the right to renounce.