NBFC Penny Stock Under Rs 5: Record Date Fixed For 14:30 Rights Issue; Key Points To Note

One of the newly established non-deposits taking non-banking finance companies (NBFCs) registered with the Reserve Bank of India, New Delhi, is Advik Capital. The company is investing funds, providing loans and advances to industrial concerns to help them with their financial needs, and leasing and financing various lease operations, including the buying, selling, hiring, or renting on hire of various types of machinery and plants. The company's RBI Certificate of Registration continues to be valid. Additionally, the company is listed and trades its shares on the Bombay Stock Exchange (BSE Limited).

Advik Capital the NBFC penny stock below Rs 5 is in focus after the company fixed Thursday, September 12, 2024 as the record date for determining the equity shareholders entitled to receive rights entitlements in the rights issue.

The Board of Directors of the company in their meeting held on March 23, 2024 had approved the issue of equity shares of face value of Rs. 1 each of the company by way of a rights issue to the eligible shareholders for an amount not exceeding Rs. 50 crore.

The total number of rights equity shares and rights issue size is up to 19,98,05,013 equity shares of the company each on fully-paid basis for an amount aggregating to Rs 4995.13 Lakhs.

Rs. 2.50/- per rights equity share [including a premium of Rs. 1.50/- per equity share] has been fixed as the issue price and 14:30, i.e., is the right entitlement ratio. The outstanding equity shares prior to the rights issue is 42,81,53,600 equity shares while the post rights issue outstanding share capital is 62,79,58,613 equity shares.

The rights issue of Advik Capital will open on Tuesday, September 24, 2024, Tuesday, October 01, 2024 has been fixed as the on-market renunciation period while Friday, October 04, 2024 has been fixed as the rights issue closing date.

"Further, we wish to inform you that in terms of SEBI Master Circular dated June 21, 2023, the Company has made necessary arrangement with NSDL and CDSL for the credit of Rights Entitlements in dematerialized form in the demat account of the eligible equity shareholders as on the Record Date (Thursday, September 12, 2024) as fixed by the Company. The ISIN of such Rights Entitlement will be intimated separately. We hereby confirm and undertake that the Rights Entitlement of the eligible equity shareholders as on the Record Date, shall be credited prior to the issue opening date, in the respective demat account of the eligible equity shareholders," said Advik Capital in a regulatory filing on September 07, 2024.

On Monday, the shares of Advik Capital were trading at Rs 2.72 apiece with a market cap of Rs 116.46 Cr. The stock recorded a 52-week-high of Rs 4.35 on (10/01/2024) and a 52-week-low of Rs 2.06 on (25/10/2023).