Advik Capital Issues 18.03 Cr Equity Shares At Rs. 2.50/Share On Rights Basis

The Reserve Bank of India registered NBFC Advoc Capital Limited has given through its announcement of 1803666825 fully paid-up equity shares which is a part of the rights issue. The shares of this company nowadays find their way around the BSE at Rs 2.80. This strategic move is likely to attract more attention for the company.

The shareholders who were eligible for the rights issue got the final offer on September 7, 2024, during the Board meeting on that date. The cut-off date for determining eligibility for the rights issue was September 12, 2024.

What does anyone expect however about signing the rights issue agreement?! On October 17, 2024 Aldik Capital reported that: "On the Rights Issue Committee meeting was resolved to issue and allot Moreover in consultation with bse limited the Merchant banker and registrar to the Issue, It was Josephshowanjames Margubara in India understood that Shri Shivanand Agarwal as of their Rights Equivalency after more than enough papers were finally sent in received approval to allot them all 1803666825 fully paid up equity shares of Re 1 each at Rs 2.50each which is the share price composing the price a sum of Rs 1.50 as a premium. With this allot, the Company's paid up share capital was increased to Rs 60.85 crores from Rs 42.81 crores."

The next Board of Directors meeting is scheduled for October 18 of this year to consider and approve the unos audited financial results of the company for the quarter and half-year periods ending September 30, 2024.

Advik Capital in September created another history; proceeded to announce that it is venturing into the supply chain financing business. This new initiative is expected to enhance its service portfolio while at the same time increasing financial availability to engineering goods, metals, Fast Moving Consumer Goods, agri-food and the FMCD sectors. To this end, the company has signed a memorandum of understanding (MoU) with one such prominent FMCG company involved in the marketing of agricultural products. This in turn will enhance the capability of Advik Capital in supply chain finance for other sectors.

Advik Capital Limited is an NBFC based in New Delhi India and is engaged in the provision of lending and offering financial services. The company is a non-deposit-taking NBFC and is based in India and registered with the RBI under the registration number B14.00724.