National, 2nd May 2025: Avantel Limited (BSE: 532406 & NSE: Avantel Limited), a provider of technology solutions to the defence and communication sectors, announced today that its Board of Directors has approved a rights issue to raise ₹80.90 crore.
The proceeds will be utilised to fund capital expenditure for new manufacturing facilities in Andhra Pradesh and Telangana, focused on electronics, antennas and GSaaS infrastructure, as well as for general corporate purposes.
As per the approved structure, the company will issue 2,02,26,100 fully paid‑up equity shares with the face value of ₹2 each at a price of ₹40 per share, including a premium of ₹38. The offer entitles eligible shareholders to receive 10 equity shares for every 121 shares held as of the record date, May 7, 2025.
The right issue will open on Thursday, May 15, 2025.and close on Thursday, May 22, 2025. The last for on market renunciation of rights entitlements is Tuesday, May 20, 2025.
The board also noted that the issue period may be extended but cannot exceed 30 days from the opening date. Upon full subscription, the company’s equity base will increase from 24,47,35,820 shares to 26,49,61,920 shares.
Avantel Limited specializes in designing, developing, and maintaining communication products, radar systems, and network management software applications, primarily catering to the aerospace and defence sectors. The company’s expertise spans various technological domains, including satellite communications (SATCOM), radar subsystems, Software-Defined Radios (SDRs), and Defence Electronics.
