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Majesco moves up on launching its Rights Offering

Aurum Proptech Ltd. | IT - Software | IT & ITES | BSE: 539289 | NSE: AURUM

07 Feb 2019 Evaluate

Majesco is currently trading at Rs. 501.40, up by 5.70 points or 1.15% from its previous closing of Rs. 495.70 on the BSE.

The scrip opened at Rs. 499.00 and has touched a high and low of Rs. 511.00 and Rs. 496.05 respectively. So far 3593 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 581.00 on 30-Apr-2018 and a 52 week low of Rs. 401.10 on 19-Jul-2018.

Last one week high and low of the scrip stood at Rs. 523.75 and Rs. 454.00 respectively. The current market cap of the company is Rs. 1418.45 crore.

The promoters holding in the company stood at 39.16%, while Institutions and Non-Institutions held 20.81% and 40.03% respectively.

Majesco has launched its previously announced rights offering.

Under the terms of the rights offering, Majesco will distribute to its shareholders, at no charge, one non-transferable subscription right for each share of common stock held or deemed to be held as of 5:00 p.m. (Eastern Time) on February 5, 2019, the record date. Each subscription right will entitle the holder to purchase one-sixth of a share of Majesco’s common stock at a subscription price of $7.10 per whole share. If all of the basic subscription rights are exercised, the total purchase price of the shares offered in the rights offering will be approximately $45,502,043.

The rights offering also includes an over-subscription right, which entitles a shareholder who exercises its basic subscription rights in full (other than those subscription rights to acquire less than one whole share of common stock, which cannot be exercised) the right to purchase, at the same subscription price of $7.10 per whole share, some or all of the additional shares of common stock that remain unsubscribed at the expiration of the rights offering, subject to availability and pro rata allocation of shares among persons exercising this oversubscription privilege.

Representatives of Majesco, a public limited company domiciled in India which currently owns 69.63% of Majesco’s issued and outstanding common stock, have informed Majesco that it intends to exercise its basic subscription rights.

The company intends to use the net proceeds from the rights offering to fund the remainder of its acquisition of Exaxe, pay off debt, and accelerate cloud growth, which includes additional acquisition opportunities.

Aurum Proptech Share Price

177.85 1.05 (0.59%)

17-Apr-2026 16:59 View Price Chart

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Majesco moves up on launching its Rights Offering

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