Majesco has concluded rights offering of 6,123,463 shares of Majesco’s common stock, resulting in gross proceeds to the company of approximately $43.5 million. Preliminary results indicate that Majesco received total subscriptions of approximately $45.4 million (including over-subscription requests). Approximately 79% of the shares to be issued were subscribed for in the basic subscription. The over-subscription requests exceeded the over-subscription shares available. The new shares of common stock will be issued on or about February 28, 2019.
Earlier, Majesco had issued one right for each share of common stock to shareholders of record as of February 5, 2019. Holders of the rights were entitled to purchase shares of common stock by submitting six rights and $7.10 for each share to be purchased.
Majesco enables insurance business transformation for approximately 150 insurance customers by providing solutions which include software, consulting and services.
| Company Name | CMP |
|---|---|
| TCS | 2581.65 |
| Infosys | 1318.60 |
| HCL Tech. | 1442.50 |
| Wipro | 204.35 |
| Tech Mahindra | 1511.85 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: