Rights Issue11 Jul 2026, 05:00 pm
Avantel Ltd: Rights Issue Proceeds Utilized as Stated
AI Summary
Avantel Ltd has received a Monitoring Agency Report from CARE Ratings Limited for the quarter ended June 30, 2026. The report confirms that the proceeds from the company's Rights Issue have been utilized for the purposes outlined in the Letter of Offer, with no deviation or variation. The report was reviewed and taken on record by Avantel's Audit Committee and Board of Directors on July 11, 2026. The Rights Issue aggregated to Rs. 80.91 crore.
Key Highlights
- Rights Issue proceeds fully utilized as per Letter of Offer.
- No deviation or variation in fund utilization confirmed.
- Report issued by CARE Ratings Limited.
- Audit Committee and Board of Directors have taken note.
- Total Rights Issue amount was Rs. 80.91 crore.
Price Impact
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