The approval for this was given by the Board of Directors of the Company at its meeting held on Thursday, i.e. on November 16, 2023.
Stock Market News: Shares of Quicktouch Technologies Limited, a leading software development company based out of New Delhi and Bengaluru, hit a 5 per cent upper circuit to Rs 205.90 per share from its previous closing. The scrip had closed at Rs 196.1 per share on Thursday. The 52-week high and low of the stock are Rs 274 and Rs 110.60 respectively. The surge in share price comes as the company has announced its plan to raise issuance of up to one crore ten lakh warrants to raise around Rs 215 crore.
The approval for this was given by the Board of Directors of the Company at its meeting held on Thursday, i.e. on November 16, 2023.
“To issue upto 1,10,00,000 (One Crore and Ten Lakhs) warrants each convertible into, or exchangeable for, 1 (one) fully paid up equity share of the Company, having a face value of INR 10/- (Rupee Ten only) within the period of 18 (eighteen months) in accordance with the applicable laws (“Warrants”) at an issue price of 196.17/- (Rupees One Ninety Six and Seventeen Paisa only) each payable in cash aggregating amount of up to 215,78,70,000 (Rupees Two Hundred Fifteen Crores Seventy Eight Lakhs Seventy Thousand Only),” the company said in an exchange filing.
The proposed issue is subject to the approval of the company’s shareholders and other regulatory authorities. The company expects to complete the issue within the next 18 months.
