This NBFC may announce rights issue - Check details

RBI-registered Advik Capital has informed exchanges that its board will meet soon to discuss matters related to a proposed rights issue. According to the company, the board meeting is scheduled for September 7.

"...to consider and approve various matters relating to the Rights Issue including terms and conditions such as the determination of the Rights Issue price and related payment mechanism, Rights Issue size, Rights Entitlement Ratio, the Record Date and timing of the Rights Issue," the company said in an exchange filing.

Earlier, Advik Capital reported a surge of around 140 per cent in net profit in the first quarter of the financial year 2024-25.

In an exchange filing, the company said that its quarterly net profit in June 2024 was Rs 2.22 crore as compared to Rs 0.91 crore in the same quarter last year.

Similarly, Advik Capital's net sales are at Rs 4.97 crore in the first quarter of the financial year 2024, up 11.18 per cent from Rs 4.47 crore in June 2023.

The company's revenue from operations stood at Rs 4.96 crore in the first quarter of FY2024-24. It was at Rs 4.46 crore in the first quarter a year ago.

EBITDA stands at Rs. 4.66 crore in June 2024 up 60.69 per cent from Rs. 2.90 crore in June 2023.