Power Transmission Stock Gives Update On Warrants, Record Date For Dividend

Advait Infratech Ltd fixed September 23, 2024 as the record date for dividend. The company recommended Rs 1.5 (15%) per equity share of the face value of Rs 10 each for the financial year 2023-24. Last trading price of Advait Infratech shares on BSE is Rs 1916.35 per share. The company's market capitalisation stood at Rs 1956.14 crore. Advait Infratech shares slipped over 8% in last 1-week and offered return of 380% in last 1-year. Check details below:

Advait Infratech Sets Record Date For Dividend: As per the regulatory filing of Advait Infratech dated September 7, 2024, "the Company has fixed Monday, September 23, 2024 as the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2023-24. The dividend, if declared at the AGM, will be paid within twenty days from the conclusion of the AGM."

Advait Infratech AGM: The company will hold the Annual General Meeting (AGM) on September 30, 2024.
Advait Infratech Gives Update On Warrants: The exchange filing dated September 6, 2024 said, "This is with reference to the captioned subject, we would like to inform you that there has been typo error with regard to date and amount in point no. 5 with regard to allotment of warrants and the same should be read as follows:-

5. In compliance with the Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and approval accorded by the Shareholders of the Company at their Extra-Ordinary General Meeting held on August 7, 2024, and In-Principle approval granted by the BSE Limited on August 21, 2024, and upon receipt of Rs. 6,28,66,404/- (Rupees Six Crore Twenty-Eight Lakhs Sixty-Six Thousand Four Hundred and Four Only) i.e. the 25% of the total amount payable towards subscription of the warrants from all the allottees, we wish to inform that the Board of Directors of the Company at their meeting held today i.e. Friday, September 5, 2024, has considered and approved the allotment of 1,41,591 Warrants convertible into equivalent number of Equity Shares of the Company having face value of Rs. 10/- each at premium of Rs. 1766/- (One Thousand Seven Hundred Sixty-Six) within a period of 18 months from the date of allotment i.e September 5, 2024 to the following Non -Promoter allottees."

Ashish Kacholia Stake: As per the information available, Board of Advait Infratech at the July 4, 2024 meeting gave nod to issuance of 288,185 shares to Ashish Kacholia by way of private placement on a preferential issue basis. The shares, with a face value of Rs 10 each, issued for cash at Rs 1,388 per equity share. Earlier on May 30, 2024, Ashish Kacholia bought 288,185 shares or a 2.7% stake in Advait Infratech.

Advait Infratech Shares Performance: The 52-week high price of Advait Infratech shares on BSE is Rs 2260.00 apiece (19/07/2024) and 52-week low price is Rs 352.25 apiece (26/10/2023), respectively. Advait Infratech shares offered return of 683% in last 2-year and jumped 5594% in last 3-years.

Advait Infratech About: Since its establishment in 2009, Advait Infratech has been at the forefront of delivering robust products and solutions tailored for power transmission, substation, and telecommunication infrastructure. Its operations spans various verticals such as manufacturing, EPC of our manufactured products in transmission and telcom sector, and green energy. It is engaged in the manufacturing and supply of power transmission products such as Stringing Tools, OPGW (Optical Fibre Ground Wire), OFC cables, ACS (Aluminium Clad Steel Wire), ERS (Emergency Restoration System), and OPGW joint boxes, according to its official website.

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