Ace Software Exports Limited has finalized its Rights Issue for 64,00,000 partly paid-up equity shares worth ₹4,992 lakhs. This Rights Issue will open for subscription on *, 2024, and close on *, 2024. Shareholders holding equity shares of Ace Software Exports Limited as of *, 2024, which is the record date for this Rights Issue, will be eligible to receive the Right Entitlements (REs). The holders of these REs can either sell them in the market or subscribe to additional equity shares of the company as per their entitlement.
The company has fixed the entitlement ratio as 1:1, i.e., 1 right equity share for every 1 fully paid-up equity share held on the record date. The issue price is ₹78 per equity share, including a premium of ₹68. For more detailed information about Ace Software Exports Limited’s Rights Issue, please read the article.
Ace Software Exports Limited, established as a premier IT solutions provider, specializes in delivering innovative and efficient software services. Based in Gujarat, the company focuses on offering cutting-edge technology solutions and services to its clients. With a commitment to quality and customer satisfaction, Ace Software Exports continues to adapt and innovate to meet the evolving demands of the IT and software industry.
Ace Software Exports Right Issue Important Details
| Details | Information |
|---|---|
| Right Issue Opening Date | 16 December, 2024 |
| Right Issue Closing Date | 27 December, 2024 |
| Type of Securities Proposed | Partly Paid-up Equity Shares |
| Last Date for On Market Renunciation of Right Entitlements | 20 December, 2024 |
| Net Issue Size Offered (In Terms of Shares) | 64,00,000 Partly Paid-up Equity Shares |
| Net Issue Size (Amount) | ₹4,992 Lakhs |
| Issue Type | Rights Issue |
| Right Issue Price | ₹78 Per Equity Share (including ₹68 premium) |
| Face Value | ₹10 Per Equity Share |
| Listing at | BSE |
| Terms of Payment | ₹39 on Application, ₹39 on First and Final Call |
| Right Issue Entitlement | 1 Right Equity Share for Every 1 Equity Share held (1:1) |
| Letter of Offer | Click Here |
| Application Form | Click Here |
Ace Software Exports Right Issue Date Schedule
| Details | Information |
|---|---|
| Last Date to Buy Shares | 4 December, 2024 |
| Right Issue Record Date | 5 December, 2024 |
| Right Entitlement Credit Date | 13 December, 2024 |
| Offer Opening Date | 16 December, 2024 |
| On Market Renunciation of Right Entitlements | 20 December, 2024 |
| Right Issue Offer Close Date | 27 December, 2024 |
| Finalization of Basis of Allotment | 6 January, 2025 |
| Allotment Date of Right Issue | 6 January, 2025 |
| Date of Credit of Right Issue | 9 January, 2025 |
| Listing Date | 13 January, 2025 |
Ace Software Right Issue Financials
| Period | 30 June 2024 (₹ Lakhs) | 31 March 2023 (₹ Lakhs) | 31 March 2022 (₹ Lakhs) |
|---|---|---|---|
| Total Assets | 3952.35 | 2105.38 | 2330.95 |
| Total Revenue | 2976.13 | 1076.31 | 1059.32 |
| Expenses | 2397.97 | 1063.98 | 1140.15 |
| Profit After Tax | 534.65 | 11.48 | -80.83 |
| Total Reserves & Surplus | 2368.35 | 1527.89 | 1488.02 |
Ace Software Exports Right Issue Net Cash Flow Overview
| Net Cash Flow | 31 March 2024 (₹ Lakhs) | 31 March 2023 (₹ Lakhs) | 31 March 2022 (₹ Lakhs) |
|---|---|---|---|
| Cash From Operating Activities | -325.00 | -77.50 | 258.37 |
| Cash From Investing Activities | -466.36 | 282.67 | -226.20 |
| Cash From Financing Activities | 1,267.63 | -228.96 | -14.46 |
| Net Increase/Decrease in Cash | 476.27 | -23.79 | 17.71 |
Key Objectives of the Proposed Right Issue
The fund raised through this right issue will be used for the following purposes
Acquisition of Remaining 60%
Stake in Ace Infoway.
Investment in Subsidiaries (QeCAD Studio LLP and QeNomy Digital LLP)
Development of Digital/SaaS Products
Working Capital Requirements
- General Corporate Purposes.
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