15363.16% Gains in 3 Yrs: Board Of This IT Software Stock Approves 06:97 Rights Issue

The Board of Cressanda Solutions Limited in a meeting held on June 12, 2023, informed the stock exchange that it has approved the Rights Issue in the 06:97 ratio i.e. 06 (Six) Rights Equity Shares having face value of Re. 01/- (Rupee One only) for every 97 (Ninety Seven) Equity Share held by the equity shareholders of the Company as on the Record Date with the Right to renounce. The record date for the Rights Issue is on 16 June 2023, according to the exchange filing.

Cressanda Solutions Limited Board Approves 06:97 Rights Issue

According to the regulatory filing by the Board of Directors of Cressanda Solutions Limited, "With reference to the above cited subject, and in compliance with related Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform to the exchange that the Board of Directors of the Company at their meeting held on 12th June 2023 have considered and approved the terms of the proposed Right Issue. The Company had filed Draft Letter of Offer with the Stock Exchange on 11th March 2023 for obtaining requisite 'In Principle Approval'. The Stock Exchange vide its letter dated 25th April 2023 approved the same."

Stock Outlook

On Tuesday, the stock of Cressanda Solutions Ltd. closed 1.94% higher at Rs. 29.38 apiece. It declined 4.33% in 1 last 1 week. It gave 27.52% positive return in 3 months. The stock has fallen 4.3% in the last 1 year. It gave a multibagger return of 1,5363.16% in the past 3 years.

The stock traded the 52 week high on 26 July 2022 at Rs. 42.25 apiece and 52 week low on 18 November 2022 at Rs. 17.35 apiece, respectively.

About - Cressanda Solutions Limited

Cressanda Solutions Limited (Cressanda Solutions) is an India-based company established in 1983, and a public listed company on BSE, is engaged in providing cutting-edge Information technology (IT), Digital Media and IT-enabled services. It has a market capitalisation of Rs. 1,170.78 crore.

Disclaimer - The Board of Cressanda Solutions Ltd. approves Rights Issue. The article should be treated as informational and not an advisory to invest. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.