The Board of Directors of Advik Capital is set to meet on Saturday, September 7, 2024, to discuss and finalize key details of their upcoming rights issue. The board will review several crucial aspects, including the rights issue price, payment mechanisms, the size of the rights issue, the rights entitlement ratio, and the record date.
"This is in furtherance to the outcome of the meeting of the Board of Directors of the Company dated March 23, 2024, and subsequent shareholder approval via postal ballot, results dated April 25, 2023, and draft letter of offer dated May 17, 2024, filed with the Stock Exchanges for obtaining requisite in principal approval for the proposed right issue. Further in this regard, BSE has granted its permission via its letter, the company said in today's exchange filing.
The company shares are currently valued at ₹2.68 apiece, with the company's market capitalization at ₹114.7 apiece. According to the Trendlyne data, the company split the face value of its shares from ₹10 to ₹1 in 2017. The share has been quoting on an ex-split basis since Dec. 14, 2017.
The company, a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, primarily focuses on providing financial loans and ancillary services. It engages in investing funds, offering financial assistance through loans and advances to industrial concerns, and financing leasing operations.
The company is involved in purchasing, selling, hiring, and leasing all types of plants and machinery, extending bridge loans to corporates, and investing in emerging businesses, their securities, and related interests. Further, the company has been exploring and evaluating new opportunities within the personal and consumer finance sectors.
Trendlyne's shareholding data shows that the majority of the company's stake is held by the public, accounting for 78.2% of the shares, while the promoters hold the remaining 21.8%.
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