Innovassynth Technologies India Ltd announces Record Date for Rights Issue

Following a meeting of the Rights Issue Committee on April 23, 2026, Innovassynth Technologies (India) Limited (formerly known as Innovassynth Investments Limited) has officially finalized the terms for its upcoming capital raise. This move follows the initial proposal approved by the Board of Directors on March 27, 2026, to raise funds aggregating up to ₹ 70 crores.

Key Issue Financials and Rationale

The committee has approved the issuance of 1,74,11,380 fully paid-up Equity Shares, each having a face value of ₹ 10. The shares are priced at ₹ 40 per Equity Share, which includes a premium of ₹ 30. Upon full subscription, the issue is expected to aggregate to a total of ₹ 69,64,55,200.

Currently, the company has 7,54,44,916 outstanding equity shares. Post-issue, assuming full subscription, the total share capital will increase to 9,28,60,696 fully paid-up equity shares.

Shareholder Entitlement and Record Date

The company has fixed Wednesday, April 29, 2026, as the Record Date. This date will serve as the benchmark to determine the eligibility of existing shareholders to participate in the offering.

The Rights Entitlement Ratio is set at 3:13, meaning shareholders will be entitled to purchase 3 new rights equity shares for every 13 existing equity shares held on the record date. Per SEBI regulations, fractional entitlements will be rounded down. The full amount of ₹ 40 per share is payable at the time of application.

Important Timeline for Investors

Innovassynth Technologies has outlined a specific schedule for the rights process:

Credit of Rights Entitlement: April 30, 2026
Rights Issue Opening Date: May 08, 2026
On-Market Renunciation Period Ends: May 12, 2026
Off-Market Renunciation Period Ends: May 15, 2026
Rights Issue Closing Date: May 18, 2026
Finalization of Allotment: May 19, 2026

Credit of Shares and Listing: Expected by May 20 and May 21, 2026, respectively.

The Board and the Rights Issue Committee maintain the authority to extend the issue period up to a maximum of 30 days from the opening date, though no applications can be withdrawn after the closing date of May 18.

Shares of INNOVASSYNTH Technologies India LTD. was last trading in BSE at Rs. 80.00 as compared to the previous close of Rs. 89.74. The total number of shares traded during the day was 260340 in over 580 trades.

The stock hit an intraday high of Rs. 90.00 and intraday low of 79.33. The net turnover during the day was Rs. 21520456.00.

Source : Equity Bulls

Keywords

INNOVASSYNTHTECHNOLOGIESINDIA INE690J01011 FundRaising RightsIssue RecordDate