Mumbai (Maharashtra) [India], April 27: Scanpoint Geomatics Limited (SGL), one of the leading providers of geospatial technology solutions is scheduled to open its Rights Issue on April 30, 2024.

The Company will issue 9,88,00,000 fully paid-up Equity Shares of face value of ₹2 each for cash at a price of ₹5 per Equity Share (including a premium of ₹3 per Equity Share) aggregating to ₹49.40 crore on a rights basis to eligible equity shareholders in the ratio of 67:47 (67 Equity Shares for every 47 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date).

The funds raised through the Issue will be used to Repay Identified Unsecured Loan of the Company, for Meeting Working Capital Requirements for the Company’s business activities and for General Corporate Purposes.

The Lead Manager to the rights issue is Vivro Financial Services Private Limited.

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