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Shares of Intellect Design Arena will remain in focus, as its ₹199-crore rights issue opens on Wednesday. The company is offering five shares for every 22 shares held by existing shareholders as of the record date July 17. The demerged firm from Polaris Financial Technology had fixed the issue price at ₹86. The stock on Tuesday closed at ₹116.95 on the BSE. The funds raised will be used for developing new products or upgrading existing products.
Infibeam Incorporation rose 3.65% to Rs 1,345.55 at 11:28 IST on BSE, with the stock extending recent gains.
Shares of Intellect Design Arena will turn ex-rights on Monday. It will issue five shares for every 22 shares held by existing shareholders. The Chennai-based demerged firm from Polaris Financial Technology plans to raise ₹199 crore through the issue. The board has fixed the rights issue price at ₹86. For investors wishing to participate in the issue, Friday is the cut-off date as the company fixed Tuesday as the record date.
Intellect Design Arena will issue five rights equity shares for every 22 shares held by existing shareholders in the proposed rights offer.
Intellect Design Arena lost 4.56% to Rs 122.40 on BSE after the companys board approved rights issue of equity shares.
Intellect Design Arena, Edelweiss Financial Services, Bharti Infratel and Page Industries are among the other losers in the BSEs A group today, 7 July 2017.
Shares of Intellect Design Arena will be in focus, as its board meets on Thursday to consider the rights issue price, entitlement ratio, issue opening and closing dates and fractional entitlement ratio.
Intellect Design Arena Limited on Wednesday informed that it has signed a 10 year deal with one of Australia’s big four to provide a digital solution for business and retail banking, as per BSE filing.
Intellect Design Arena gained 2.15% to Rs 118.70 at 11:10 IST on BSE after the company said that it has signed a ten year deal with one of Australias big four bank.
Intellect Design Arena reports standalone net loss of Rs 24.93 crore in the March 2017 quarter