Penny stock below Rs 15: Board announces 13:100 rights issue of shares; Record date - June 30, 2025
The company has a market cap of Rs 165 crore and the stock is up by 34.43 per cent from its 52-week low of Rs 7.61 per share.
GVP Infotech Limited has announced a Rights Issue of equity shares, with the Record Date set for Monday, June 30, 2025. This will determine which shareholders are eligible to participate in the offering. The company plans to issue 13 Rights Equity Shares for every 100 fully paid-up equity shares held by existing shareholders. This decision was made at a Board of Directors meeting on June 23, 2025, where the issuance of 2,11,72,007 equity shares was approved.
These new equity shares, each with a face value of Rs 2, will be offered at an issue price of Rs 10 per share, aiming to raise a total of Rs 21,17,20,070. Shareholders will need to pay Rs 5 per share at the time of application, with the remaining Rs 5.00 payable in a final call as determined by the Board. Before this Rights Issue, GVP Infotech had 16,28,61,590 outstanding equity shares, which, assuming full subscription, will increase to 18,40,33,597 shares post-issue.
DSIJ offers a service 'PAS' which provides stock recommendations that have the potential to generate excellent returns on your portfolio. If this interests you, then do download the service details pdf here
GVP Infotech Ltd, established in 2011, is an IT Services company specialising in information technology and cable infrastructure. The company provides IT/ITES and telecom solutions, along with technical support and operations outsourcing, often partnering with government and public sector institutions to deliver cost-effective IT strategies. GVP Infotech operates across three core verticals: Technology Solutions, IT Infrastructure Services and Operations Outsourcing. Its comprehensive service offerings include eGovernance, Financial Inclusion, IT Security, Citizen and Front-end services, Managed Manpower deployment, Network Infrastructure, IT Infra & System Integration, Scanning and Digitisation, Document Management Solutions, IOT & Surveillance Solutions and Virtual Data Room services.
On Tuesday, shares of GVP Infotech Limited gained 2.81 per cent to Rs 10.23 per share from its previous closing of Rs 9.95 per share. The company has a market cap of Rs 165 crore and the stock is up by 34.43 per cent from its 52-week low of Rs 7.61 per share. The stock’s 52-week high is Rs 15 per share and its 52-week low is Rs 7.61 per share.
Disclaimer: The article is for informational purposes only and not investment advice.