Description

Indian Infotech and Software Limited extends its rights issue closing date from August 13, 2025 to August 20, 2025 to provide additional opportunity for eligible shareholders.

Summary

Indian Infotech and Software Limited (Scrip Code: 509051) has extended the closing date of its ongoing rights issue from Wednesday, August 13, 2025 to Wednesday, August 20, 2025. The extension was approved by the Right Issue Committee at its meeting held on August 12, 2025, to provide eligible equity shareholders with an additional window of opportunity to apply.

Key Points

  • Rights issue closing date extended by 7 days from August 13 to August 20, 2025
  • Issue opening date remains unchanged at August 6, 2025
  • No changes to terms and conditions of Letter of Offer (LOF), Abridged Letter of Offer (ALOF), or Application Form
  • Addendum with revised timeline to be made available on company, registrar, and BSE websites
  • Meeting commenced at 5:00 PM and concluded at 5:30 PM on August 12, 2025

Regulatory Changes

No regulatory changes - only procedural extension of existing rights issue timeline.

Compliance Requirements

  • Company to publish addendum with revised closing date and timeline on websites
  • Information to be disseminated on BSE portal for stakeholder benefit
  • Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Important Dates

  • Last date for credit of rights entitlements: Tuesday, July 29, 2025
  • Issue Opening Date: Wednesday, August 6, 2025
  • Last Date for on Market Renunciation: Friday, August 8, 2025
  • Revised Issue Closing Date: Wednesday, August 20, 2025 (extended from August 13, 2025)
  • Finalization of Basis of Allotment: Thursday, August 21, 2025
  • Date of Allotment: Thursday, August 21, 2025
  • Date of listing application to SE: Thursday, August 21, 2025
  • Date of in-principle approval of listing: Friday, August 22, 2025
  • Date of application for credit of rights equity shares: Friday, August 22, 2025

Impact Assessment

The extension provides existing shareholders with additional time to decide on rights issue participation, potentially improving subscription rates. The 7-day extension may help the company achieve better fundraising outcomes while maintaining the same terms and conditions. Post-issue activities timeline has been adjusted accordingly, with allotment and listing processes scheduled for late August 2025.

Impact Justification

Extension provides additional opportunity for shareholders to participate in rights issue, affecting subscription levels and company funding