Quest Softech India Rights Issue

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 shares05 January 2024
Record Date08 January 2024
Credit of Rights Entitlements01 February 2024
Bid/Offer Opens On02 February 2024
Renunciation of Rights Entitlements08 February 2024
Bid/Offer Closes On15 February 2024
Deemed Date of Allotment04 February 2024
Credit Date28 February 2024
Listing Date01 March 2024

Quest Softech India Rights Issue Details

Issue OpenFebruary 2, 2024 – February 15, 2024
Security NameQuest 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 AtBSE
Terms of PaymentAn 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.
Entitlement8 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax-1.32-0.36-0.51-1.15
Net Worth2.013.333.694.20
Reserves and Surplus-7.99-6.67-6.31-8.92
Total Borrowing6.224.560.320.20
(Amount in ₹ Crore)

Quest Softech India Rights Issue Documents

Lead Manager(s)

Quest Softech India Registrar

Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761

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

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

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