Avantel Limited — Important, 01-05-2025: Updates

Avantel Limited has announced a board meeting on May 1, 2025, approving a Rights Issue of up to 2.02 crore equity shares at ₹40 each to raise ₹80.9 Cr. Existing shareholders will receive 10 shares for every 121 held. The proceeds will be used to fund business growth and strengthen the balance sheet. Post-issue, total equity shares are expected to increase to 26.5 crore upon full subscription. The company will soon share the Letter of Offer with shareholders.