Cressanda Solutions Rights Issue will open for subscription from 27 June 2023. the company aims for an issue size of ₹49.30 Crores through this rights Issue.
About the company
Incorporated in 1983, Cressanda Solutions Limited is engaged in providing Information technology (IT), Digital Media, and IT-enabled services. The company provides two types of products: Technology nXT and Infra nXT. Technology nXT introduces disruptiveness in business processes to lower TAT (Turnaround time), incorporate simplicity, and standardization of business operations, enabling domain expertise and offering value-for-money solutions to the end customer. As part of the Technology nXT strategy, the company has acquired ‘Lucida Technologies’ a Bangalore-based Technology firm specializing in the areas of Digital and Analytics solutions, Machine Learning, and Artificial Intelligence.
Infra nXT projects will boast of Infrastructure projects based on the concept of tech n touch, to deliver efficient, connected, resilient, and agile assets, to build efficiency in operation, lowering TAT, and increasing employment, across industries. Focusing on verticals like healthcare, education, livelihood, financial services, and transportation amongst others.
Objectives of the Issue
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Cressanda Solutions Rights Issue Timetable
| Last Date to buy shares | 15 June 2023 |
| Record Date | 16 June 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 27 June 2023 |
| Renunciation of Rights Entitlements | 05 July 2023 |
| Bid/Offer Closes On | 11 June 2023 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Cressanda Solutions Rights Issue Details
| Issue Open | Jun 27, 2023 – Jul 11, 2023 |
| Security Name | Cressanda Solutions Limited |
| Issue Size (Shares) | 24,649,206 |
| Issue Size (Amount) | ₹49.30 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The full amount is payable on application. |
| Entitlement | 6 Rights Equity Share(s) for every 97 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-18 | 24.36 | 0.11 | -0.01 |
| 31-Mar-19 | 24.27 | -0.09 | |
| 31-Mar-20 | 24.25 | -0.09 | |
| 31-Mar-21 | 24.20 | 0.09 | 0.00 |
| 31-Mar-22 | 41.11 | 0.24 | 0.27 |
Rights Issue Documents
Lead Manager(s)
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Rights Issue Registrar
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Company Contact Information
Cressanda Solutions Limited
Flat no.12A, 3rd Floor,
Embassy Centre, Jamnalal Bajaj Marg,
Plot no 207, Nariman Point Mumbai – 400 021
Phone: +91-8169245676
Email: info@cressanda.com
Website: https://www.cressanda.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
