Quest Softech India Rights Issue will open for subscription from 02 February 2024. the company aims for an issue size of ₹48 Crores through this rights Issue.
About the company
Incorporated in 2000, Quest Softech (India) Limited provides home charging solutions, public charging stations, and fleet management solutions. The company also operates its charging stations and provides various services for the EV charging stations such as installation of charging stations, feasibility check, and provision of annual maintenance services (AMC Services) for the installed charging stations. The company has two business models: the COCO model and the trading model. COCO (company-owned and company-operated) refers to the costs that QSIL incurs for the procurement, installation, and maintenance of the charging stations at its own expense.
The company’s charging station is operated under the brand name “AMPVOLTS”. Under AMPVOLTS, the company offers the testing of charging stations for suitability and cost-effectiveness, the trading of charging stations, the installation and commissioning of charging stations, the servicing and maintenance of charging stations, and a network of COCO charging stations (company-owned and company-operated charging stations). In addition to charging solutions, the company also offers consulting services to help companies and organizations develop and implement their charging strategies for electric vehicles.
Objectives of the Issue
- Installation of EV charging Station;
- General Corporate Purposes; and
- To meet the Right issue expenses.
Quest Softech India Rights Issue Timetable
| Last Date to buy shares | 05 January 2024 |
| Record Date | 08 January 2024 |
| Credit of Rights Entitlements | 01 February 2024 |
| Bid/Offer Opens On | 02 February 2024 |
| Renunciation of Rights Entitlements | 08 February 2024 |
| Bid/Offer Closes On | 15 February 2024 |
| Deemed Date of Allotment | 04 February 2024 |
| Credit Date | 28 February 2024 |
| Listing Date | 01 March 2024 |
Quest Softech India Rights Issue Details
| Issue Open | February 2, 2024 – February 15, 2024 |
| Security Name | Quest Softech (India) Limited |
| Issue Size (Shares) | 16,000,000 |
| Issue Size (Amount) | ₹48.00 Crores |
| Issue Price | ₹30 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | An amount of Rs. 10/- per Rights Equity Share (including a premium of Rs. 6.67 per Rights Equity Share) to be paid on Application and balance to be paid in 2 calls as determined by the Board at its sole discretion from time to time. |
| Entitlement | 8 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9.85 | 7.89 | 4.01 | 4.40 |
| Revenue | 0.03 | 0.06 | 0.09 | 0.08 |
| Profit After Tax | -1.32 | -0.36 | -0.51 | -1.15 |
| Net Worth | 2.01 | 3.33 | 3.69 | 4.20 |
| Reserves and Surplus | -7.99 | -6.67 | -6.31 | -8.92 |
| Total Borrowing | 6.22 | 4.56 | 0.32 | 0.20 |
Quest Softech India Rights Issue Documents
Lead Manager(s)
–
Quest Softech India Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/queries/
Company Contact Information
Quest Softech (India) Limited
Cabin No. 11, 7th Floor,
Times Square, Andheri Workflo, next to Sai Service
Andheri East, Mumbai – 400069
Phone: +91 22 414 95895
Email: compliance@ampvolts.com
Website: https://ampvolts.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
