Home / Markets / Stock Markets /  IT stock sets record date for 8:25 rights issue, scrip is 51% below the high

A small-cap company with a market valuation of 150.42 Cr, Compuage Infocom Ltd operates in the IT industry. The organisation, which serves system integrators, brand stores, enterprises, retailers, and more, is one of India's leading distributors. With an expanding network of over 12000+ online and offline partners, the firm provides solutions in the cloud, networking, cybersecurity, storage, and servers throughout 7 nations. The company has declared rights issue in the 8:25 ratio and has also announced record date for the purpose of the same.

Rights issue details of Compuage Infocom as per the stock exchange filings

Rights Issue Price: Rs. 20/- per fully paid-up Equity Share (including a premium of Rs. 18 /- per Equity Share).

Total number of Equity Shares and Rights Issue size: 2,07,92,258 (Two Crore Seven Lakh Ninety Two Thousand Two Hundred and Fifty Eight) fully paid-up Equity Shares of the face value of Rs. 2/- (Rupees Two Only) each at an issue price of Rs. 20/- (Rupees Twenty Only) per Equity Share aggregating to Rs. 41,58,45,160/- (Rupees Forty One Crore Fifty Eight Lakh Forty Five Thousand and One Hundred Sixty Only).

Record Date: Monday, November 14, 2022 for the purpose of determining the Equity Shareholders entitled to receive the rights entitlement in the Rights Issue.

Outstanding Equity Shares- Prior to the Rights Issue: 6,49,75,806 Equity Shares, Post Rights Issue: 8,57,68,064 Equity Shares.

Rights Entitlement Ratio: 8 Equity Shares for every 25 Equity Shares held by the Eligible Equity Shareholders in the Company as on the Record Date with right to renounce.

Issue Period: Issue Opening Date- November 23, 2022, Last date for On Market Renunciation of Rights Entitlement- November 29, 2022, Issue Closing Date- December 2, 2022.

“The designated stock exchange in relation to the Rights Issue will be the BSE Limited, as approved by the Board," said the company in a stock exchange filing.

The shares of Compuage Infocom Ltd closed on Friday at 23.00 apiece, down by 1.92% from the previous close of 23.45. On a YTD basis, the stock has fallen 35.30% so far in 2022. The stock had touched a 52-week-high of 47.15 on (07-January-2022) and a 52-week-low of 18.70 on (18-July-2022), indicating that at the current market price the stock is trading 51.21% below the high and 22.99% above the low.


Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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