Scanpoint Geomatics Limited: Rs 49.40 Crore Rights Issue to Open on April 30, 2024 & Closes On May 08, 2024

PNN

Mumbai (Maharashtra) [India], April 27: Scanpoint Geomatics Limited (SGL), one of the leading providers of geospatial technology solutions is scheduled to open its Rights Issue on April 30, 2024.

The Company will issue 9,88,00,000 fully paid-up Equity Shares of face value of Rs2 each for cash at a price of Rs5 per Equity Share (including a premium of Rs3 per Equity Share) aggregating to Rs49.40 crore on a rights basis to eligible equity shareholders in the ratio of 67:47 (67 Equity Shares for every 47 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date).

The funds raised through the Issue will be used to Repay Identified Unsecured Loan of the Company, for Meeting Working Capital Requirements for the Company's business activities and for General Corporate Purposes.

The Lead Manager to the rights issue is Vivro Financial Services Private Limited.

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