Innovassynth Technologies Fixes Record Date and Details Rights Issue for ₹ 69.64 Crore Fundraise
Innovassynth Technologies (India) Ltd announced that its Rights Issue Committee approved the terms for raising funds through a rights issue, setting the Record Date for April 29, 2026. The company had previously sought approval to raise funds aggregating up to ₹ 70,00,00,000 (Rupees Seventy Crores only) through a rights issue.The Rights Issue Committee meeting, held on April 23, 2026, fixed April 29, 2026, as the Record Date. This date is designated for identifying eligible shareholders for the issuance of fully paidup equity shares.
According to the committee's approval, the company plans to issue 1,74,11,380 fully paidup Equity Shares at ₹ 40 each. This issue includes a premium of ₹ 30 per share, with the total aggregated amount standing at ₹ 69,64,55,200 (Rupees Sixty-Nine Crores Sixty-Four Lakhs Fifty-Five Thousand and Two Hundred Only).
Key Terms and Financial Details
The rights issue is based on a ratio of 3 Rights Equity Shares for every 13 Equity Shares held by the existing Eligible Equity Shareholders as on the Record Date.The details of the rights issue terms, including the pricing and subscription process, are summarized below:
| Detail | Specification | Value |
|---|---|---|
| Shares Offered | Fully paidup Equity Shares | 1,74,11,380 |
| Price Per Share | Face Value + Premium | ₹ 40 (₹ 10 Face Value + ₹ 30 Premium) |
| Total Aggregation | Total funds sought | ₹ 69,64,55,200 |
| Rights Ratio | Rights Shares : Existing Shares | 3 : 13 |
| Record Date | Date for eligibility check | April 29, 2026 |
Timeline for Rights Issue
The company outlined a detailed schedule for the rights issue, spanning several weeks starting in May 2026. The rights entitlement will be credited to the demat account on or around May 30, 2026.Key dates for eligible shareholders include:
- Issue Opening Date: May 08, 2026
- Last Date for On-Market Renunciation: May 12, 2026
- Issue Closing Date: May 18, 2026
- Date of Allotment (on or about): May 19, 2026
- Date of Listing (on or about): May 21, 2026
The company confirmed that the outstanding equity shares were 7,54,44,916 fully paidup Equity Shares prior to the rights issue. Assuming full subscription, the total outstanding equity shares post rights issue are projected to be 9,28,60,696 fully paidup Equity Shares.
Stock Price Movement
Innovassynth Technologies (India) Ltd shares settled at ₹89.74 at the close of trade today, gaining a solid 6.99%. The stock spent the day in a wide range, testing lows of ₹83.10 before reaching an intraday high of ₹92.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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