Ducon Infratechnolgies Limited today announced that it has achieved successful closure of Rights Issue of 6,49,85,118 (Six Crores Forty-nine Lakhs Eighty-Five Thousands One Hundred & Eighteen ) fully paid-up Equity Shares aggregating to Rs. 4548.96 Lakhs having issue price of Rs. 7/- per Equity Share (including a premium of Rs.6/- per Equity Share) ('Rights Issue') on a rights basis to the eligible equity shareholders of our Company closed successfully on September 24, 2024. The Rights Issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.
The Rights issue was oversubscribed by 2.21 times.
Ducon Infratechnolgies Limited, involved wind energy-based renewable power generation and distribution focused on owning, announced today, the successful closure of the issue of 6,49,85,118 (Six Crores Forty-nine Lakhs Eighty-Five Thousands One Hundred & Eighteen) fully paid-up Equity Shares on rights basis to the eligible equity shareholders (the "Rights Issue") which was launched on September 12, 2024.
The issue resulted into subscription of 14,41,32,661 shares resulting into oversubscription by 2.21 times. The issue period was from September 12, 2024, to September 24, 2024. The issue size was 6,49,85,118 (Six Crores Forty-nine Lakhs Eighty-Five Thousands One Hundred & Eighteen) fully paid-up Equity Shares aggregating to Rs. 4548.96 Lakhs having issue price of Rs. 7/- per Equity Share (including a premium of Rs.6/- per Equity Share) on a rights basis to its eligible equity shareholders in the ratio of 1 (One) Rights Equity Share for every 04 (Four) fully paid-up Equity Shares held as on record date i.e. August 30, 2024.
The funds raised via rights issue will be used in the manner described in the Letter of Offer dated August 24, 2024., i.e.
1. To augment our working capital requirements
2. General Corporate Purpose
The allotment, listing and trading formalities of the new shares on the BSE and NSE are expected to be completed on or about Saturday, 5th October, 2024, Friday, October 11, 2024 and Monday, October 14, 2024 respectively.
Commenting on the success of the Rights Issue, Shri Arun Govil, Chairman and Managing Director of Ducon Infratechnologies Limited, said, "I express my sincere thanks to our dear and esteemed shareholders for participating in this Rights Issue and making it a new and proud landmark in the history of India's capital market.
Since the time of Shri Arun Govil, the Founder of Ducon Infratechnologies Limited, our shareholders have always been our biggest source of strength. Our decades-old relationship based on trust has consistently spurred us to achieve more. We are delighted and humbled by their extraordinary show of confidence in the future of Ducon.
Intermediaries for this rights issue:
- Mark Corporate Advisors Private Limited - the Lead Manager to the Issue,
- Bigshare Services Private Limited - Registrar to the Issue
- RMA Legal - the Legal Advisor to the Company,
- HDFC Bank Limited - the Banker to the Issue.
Shares of Ducon Infratechnologies Limited was last trading in BSE at Rs. 10.26 as compared to the previous close of Rs. 10.09. The total number of shares traded during the day was 185742 in over 421 trades.
The stock hit an intraday high of Rs. 10.35 and intraday low of 9.81. The net turnover during the day was Rs. 1873670.00. |
