Indian Infotech Rights Issue Date, Share Price, History and More Details

News: Indian Infotech and Software Limited (IISL) is a non-banking financial company that has been serving individuals and businesses since 1982. It provides loans at reasonable interest rates and also invests in shares of companies with high growth potential. As part of its commitment to the “Make in India” movement, IISL supports both startups and established companies.

Rights Issue Overview

1. Issue Period: February 6, 2024, to February 13, 2024

2. Security Name: Indian Infotech and Software Limited

3. Issue Size: 261,453,270 shares (amounting to ₹41.83 crores)

4. Issue Price: ₹1.6 per share

5. Face Value: ₹1 per share

6. Listing: BSE

Rights Entitlement

Eligible shareholders will receive 13 Rights Equity Shares for every 50 fully paid-up Equity Shares they hold as of the Record Date (January 29, 2024).

Subscribe to Sarkari Result to stay informed. Get the latest celebrity news and detailed movie reviews in real-time. Keep up with the constantly changing world of entertainment with Sarkari Exam.

Issue Timetable

1. Last Date to Buy Shares: January 25, 2024

2. Record Date: January 29, 2024

3. Bid/Offer Opens: February 6, 2024

4. Renunciation of Rights Entitlements: February 8, 2024

5. Bid/Offer Closes: February 13, 2024

6. Deemed Date of Allotment: February 15, 2024

7. Credit Date: February 19, 2024

8. Listing Date: February 26, 2024

Company Financials (Restated)

1. Revenue (as of March 31, 2023): ₹47.06 crores

2. Profit After Tax (PAT) (as of March 31, 2023): ₹0.61 crores

3. Net Worth (as of March 31, 2023): ₹229.81 crores

4. Reserves and Surplus (as of March 31, 2023): ₹128.68 crores

Objects of the Issue

The Net Fresh Issue Proceeds will be utilized for:

1. Meeting the Working Capital Requirements of the company.

2. General Corporate Purposes.

Subscription Status

The Indian Infotech and Software Rights Issue 2024 was oversubscribed by 1.37 times, with a total bid quantity of 359,489,499 shares received by BSE.

Disclaimer: Please note that all content and tools on this website are provided for your convenience and are offered “as is” without warranties. The information provided, including any tool-generated output, is for informational purposes only and should not be considered investment advice or guarantees. Exercise caution, seek professional advice, and make independent judgments before acting on any information found on this site.

FAQ’s

Q: What is the issue price for the Rights Issue?

A: The issue price for the Rights Issue is ₹1.6 per share.

Q: How many Rights Equity Shares are shareholders entitled to receive?

A: Shareholders are entitled to receive 13 Rights Equity Shares for every 50 fully paid-up Equity Shares held.

Q: What is the total issue size for the Rights Issue?

A: The total issue size for the Rights Issue is 261,453,270 shares, valued at ₹41.83 Crores.