Compuage Infocom Limited - Update on Rights Issue

Compuage Infocom Limited, distributor of Enterprise Solutions, Cloud Computing, IT Consumer and Hardware Services has successfully concluded its Rights Issue and 2,07,92,258 fully paid-up equity shares of the face value of Rs. 2/- each, at an issue price of Rs. 20/- each, including a premium of Rs. 18/- per equity share on rights basis are listed and permitted to trade on the stock exchanges with effect from Monday, December 19, 2022.

During this financial year, Compuage Infocom Limited was able to sign three distribution agreements namely Lexar Co. Limited for memory and storage products in India, R&M India Private Limited to provide versatile structured cabling solution to partners, and with Super Micro Computer, Inc to provide high performance and high-efficiency servers, server management softwares and storage systems for partners.

Commenting on the successful listing of Rights Shares and business outlook, Mr. Atul Mehta, Chairman & Managing Director, said, "We at Compuage are happy on successful listing of Rights Shares on stock exchanges and by the response received in Rights Issue, this will help us to attain our outlined goals faster and enable it to take advantage of future development opportunities.

Being a distributor for the aforementioned companies, it will assist Compuage in adding solutions and selling flexible goods in markets, providing brand partners with an advantage in supplying varied solutions with its Tier I, II, and Tier III markets. It will benefit Compuage to fulfill the evolving market with cutting edge technologies and solutions.

Going ahead, we will also continue to concentrate to add more brand partnerships which will help us broadening our product portfolio and expanding our business into new areas in order to grow our Company and create more value and profitability."

Shares of Compuage Infocom Limited was last trading in BSE at Rs. 20.95 as compared to the previous close of Rs. 23.30. The total number of shares traded during the day was 709428 in over 3265 trades.

The stock hit an intraday high of Rs. 21.70 and intraday low of 20.65. The net turnover during the day was Rs. 14977809.00.

Source : Equity Bulls

Keywords

CompuageInfocom INE070C01037 RightsIssue Listing