Issue Oversubscribed by 280% on Closure of Issue Period Today, July 26, 2024
- Issue of 42,41,321 (Forty-Two Lakhs Forty-One Thousand Three Hundred and Twenty-One) partly paid-up Equity Shares of face value of Rs. 10/- each of our Company (the “Rights Equity Shares”) for cash at a price Rs. 76/- per Equity Share (including a premium of Rs. 66/- per Equity Share) Rs. 3,223.40/- lakhs (Rupees Three Thousand Two Hundred Twenty-Three lakhs and Forty Thousand Only) on a rights basis to the eligible equity shareholders of our Company closed successfully today.
- The issue is oversubscribed by 280%.
Pune, July 26, 2024: MITCON Consultancy & Engineering Services Limited (NSE:MITCON INE828O01033), involved in multiple industry verticals include Energy Transition, Renewables, Biofuels, Skill Development, Environment Management and Engineering, Business Advisory Services, announced today, the successful closure of the issue of 42,41,321 (Forty-Two Lakhs Forty-One Thousand Three Hundred and Twenty-One) partly paid−up Equity Shares on rights basis to the eligible equity shareholders (the “Rights Issue”) which was launched on June 28, 2024.
The issue resulted into subscription of 1,19,67,058 shares resulting into oversubscription by 280%. The issue period was from June 28, 2024, to July 26, 2024.
Intermediaries for this rights issue: Srujan Alpha Capital Advisors LLP− the lead manager, Vidhigya Associates − the Legal Advisor, Link Intime India Private Limited − the RTA, Axis Bank− the Banker to the Issue.
This public announcement does not constitute an offer of Equity Shares for sale or the solicitation of any offer to buy Equity Shares in any jurisdiction, including the United States. This public announcement is not intended to be a prospectus (as defined under the Companies Act, 2013, as amended) or draft offer document or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The Equity Shares described in this public announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the “US Securities Act“), or an exemption there from. The Equity Shares have not been and will not be registered under the US Securities Act or any state securities laws in the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in accordance with any United States state securities laws.