Adroit Infotech Rights Issue Date, Share Price, History, Allotment Status and More Details

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.

What is a Rights Issue?

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.

Adroit Infotech Rights Issue 2024: Overview

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

Entitlement and Record Date

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).

Use of Proceeds

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

Subscription Status

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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Important Dates

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

Financial Performance

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%

About Adroit Infotech :

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:

1. SAP HANA & Advanced Data Solutions: Providing innovative, quicker insights and reliable results.
2. SAP FIORI & Technical Services: Enabling rapid information access, flexibility, and quick decision-making.
3. SAP Migrations & Upgrades: Modernizing SAP environments with the latest landscape.
4. SAP Business Objects / Business Analytics: Enhancing business decisions through analytics.
5. Conventional SAP – ECC: Leveraging proven technology across various industries and countries.
6. SAP Authorized Training & Certification: Offering world-class SAP education for a rewarding career.

Adroit Infotech has successfully completed significant projects, including:

• HANA Migration and Upgrade from ECC to S/4 HANA for Solar Industries India Limited.
• One of the first SAP S/4 HANA Implementations in India for Vicco Laboratories.
• GST Implementation for JSW, one of the largest Indian conglomerates.
• Cross OS/DB/Hardware Migration & Version Upgrade for Ashok Piramal Group.
• SAP Implementation & Business Objects/Analytics for Bee’ah, a leading waste management company in the Middle East.

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.

FAQs

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.