News: Adroit Infotech Limited, a company specializing in SAP consulting services, recently conducted a Rights Issue. In this article, we’ll delve into the essential details related to this issue, including the issue date, share price, history, and allotment status.
A Rights Issue is a way for a company to raise capital by offering additional shares to its existing shareholders. These shareholders have the right (but not the obligation) to purchase these new shares at a predetermined price.
1. Issue Period: February 7, 2024, to February 16, 2024
2. Security Name: Adroit Infotech Limited
3. Issue Size (Shares): 32,501,058
4. Issue Size (Amount): ₹48.75 Crores
5. Issue Price: ₹15 per share
6. Face Value: ₹10 per share
7. Listing: BSE and NSE
Existing shareholders were entitled to receive 3 Rights Equity Shares for every 2 fully paid-up Equity Shares held on the Record Date (January 19, 2024).
The net proceeds from the Rights Issue will be utilized for the following purposes:
1. Expansion of Business
2. Paying off other non-current liabilities
3. Meeting working capital requirements
4. Acquisitions of businesses in similar or complementary spaces
5. General corporate purposes
6. Covering the expenses of the Issue
As of February 15, 2024, the Adroit Infotech Rights Issue was subscribed 0.87 times. The total bid quantity received by BSE and NSE amounted to 28,366,288 shares.
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1. Last Date to Buy Shares: January 18, 2024
2. Record Date: January 19, 2024
3. Deemed Date of Allotment: February 23, 2024
4. Listing Date: March 4, 2024
Adroit Infotech Limited witnessed significant growth in revenue and profit after tax (PAT) between March 2022 and March 2023:
1. Revenue: Increased by 250.28%
2. Profit After Tax: Rose by 511.49%
Adroit Infotech is a leading SAP solutions company based in Pune, India. With nearly two decades of experience, they specialize in helping organizations reduce costs and enhance efficiency through internal process improvements using SAP products and solutions. Their services cover a wide range of areas:
Adroit Infotech has successfully completed significant projects, including:
The Adroit Infotech Rights Issue provides existing shareholders with an opportunity to participate in the company’s growth. As the company continues to expand its services and explore new avenues, investors can keep an eye on its performance.
Q: When can we expect the allotment status to be available?
A: The allotment status is usually finalized within a week of the closing date. However, due to unforeseen circumstances, the current status is unavailable. Rest assured, we are actively addressing the issue and working towards resolving it to provide the necessary information.
Q: Who manages the allotment process?
A: The registrar of the rights issue, either Karvy or Link Intime, oversees the allotment process. They are responsible for ensuring a fair and transparent allocation of shares to eligible applicants.
Q: How can shareholders stay informed about the allotment status?
A: Shareholders can regularly check the official website of Adroit Infotech or reach out to the registrar (Karvy or Link Intime) for the latest updates on the allotment status. We recognize the significance of this information to our shareholders and are committed to keeping them updated as soon as new information becomes available.
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