Small-cap stock offers rights issue in 8:25 ratio at 20% discount. Details here

Compuage Infocom rights issue: Rights issue of the small-cap company opened on 23rd November 2022 and it will remain open till 2nd December 2022. The company has offered rights issue at a price of ₹20 per equity share, which around ₹5 below from its current market price of ₹25 per share. So, the small-cap company is offering rights issue at a discount of near 20 per cent. The company has already made it clear that the rights issue aims to raise fund for its working capital and general corporate purpose.

While announcing its rights issue, Compuage Infocom said, "To meet its funding needs for working capital (Rs. 31.79 crore), and general corporate purpose ( ₹9 crore), CIL is offering a Rights issue (RI) in the ratio of 8:25 to garner ₹41.58 crore. The Company is offering Rights Issue of 2,07,92,258 equity shares of ₹2 at price of ₹20 per share. Post-RI, CIL's current paid-up equity capital of ₹13.00 crore. will stand enhanced to ₹17.15 crore. Based on the RI pricing, the company is looking for a market cap of ₹171.54 crore."

Here we list out important Compuage Infocom rights issue details:

1] Compuage Infocom rights issue price: the small-cap company is offering rights issues at a price of ₹20 per equity share.

2] Compuage Infocom rights issue subscription date: The issue opened on 23rd November and it will remain open till 2nd December 2022.

3] Compuage Infocom rights issue size: The small-cap company aims to raise ₹41.58 crore from its rights offer.

4] Compuage Infocom rights issue ratio: The small-cap company is offering 8 equity shares for every 25 shares held by the shareholders on record date of the rights issue. Record date of the rights issue was 14th November 2022.

5] Compuage Infocom rights issue allotment date: The deemed date for allotment of rights issue is 13th December 2022.

6] Compuage Infocom rights issue listing: Right offer of the company is proposed for listing on both NSE and BSE.

7] Compuage Infocom rights issue proceeds: The company has announced that the net proceeds of the rights offer will be used to meet its funding needs for working capital and general corporate purpose.

8] Compuage Infocom rights issue listing date: Expected date of rights issue listing is 21st December 2022.