Advik Capital to Reveal Key Rights Issue Details on Sept 7—Penny Stock Under ₹5 Set for Big Moves

Advik Capital’s Board of Directors will meet on Saturday, September 7, 2024, to finalize important details for their upcoming rights issue. In this meeting, they will decide on key factors like the rights issue price, how payments will be made, the size of the issue, the ratio of rights entitlement, and the record date.

This follows previous actions, including a board meeting on March 23, 2024, shareholder approval on April 25, 2023, and a draft letter submitted on May 17, 2024, to get the necessary approval from the stock exchange. Advik Capital has received approval from BSE as confirmed in today’s filing.

Currently, Advik Capital shares are priced at ₹2.68 each, with a total market capitalization of ₹114.7 crore. Back in 2017, the company split the face value of its shares from ₹10 to ₹1, with the shares trading at this new value since December 14, 2017.

About Advik Capital

Advik Capital is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India. The company offers financial loans and services, focusing on providing funds and assistance through loans and advances, particularly to industrial businesses. It also invests in different businesses and leasing operations.

Advik Capital is involved in buying, selling, hiring, and leasing machinery, offering bridge loans to companies, and investing in growing businesses. The company has also been looking into new opportunities in the personal and consumer finance sectors.

According to Trendlyne, 78.2% of Advik Capital’s shares are held by the public, while the promoters hold 21.8%.