Continental Controls Plans Rights Issue Up to ₹50 Crores

Continental Controls Ltd announced its Board of Directors has approved a rights issue to raise funds not exceeding ₹50 Crores. The equity shares will have a face value of ₹10 each. The record date for eligibility will be determined and notified later. The company also approved the acquisition of commercial rights for two software applications, "Ready Shopping" and "Ready Pharmacy", from Onelife Capital Advisors Limited (OCAL) for a fixed license fee of ₹53,99,603. Additionally, a strategic collaboration fee of 0.50% of Gross Revenue will be paid to OCAL. The Board also approved the appointment of Purva Sharegistry (India) Private Limited as the Registrar and ICICI Bank Limited as the Banker to the Issue. The company also noted the resignation of Ms. Jyoti Darade as Company Secretary and appointed Ms. Anushree Tekriwal in her place. Furthermore, the Board noted the resignation of Ms. Khusbu Agrawal as Independent Director and appointed Dr. Ranu Jain as Non-Executive Independent Additional Director.