₹49.30 Crores | Listing at BSE | Tue, Jun 27, 2023 - Tue, Jul 11, 2023
Cressanda Solutions Limited Rights Issue comprises 2.46 Cr equity shares aggregating to ₹49.30 Cr, offered at an issue price of ₹20 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jun 16, 2023, with the Rights Issue being offered in the entitlement ratio of 6 : 97.
The term of payment is defined as following : The full amount is payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 17, 2023.
The Rights Issue opens on Jun 27, 2023, and closes on Jul 11, 2023, with renunciation of Rights Entitlements permitted up to Jul 5, 2023.
The deemed date of allotment is Jul 17, 2023, following which the equity shares are expected to be credited to demat accounts on Jul 19, 2023 and listed at the BSE on Jul 24, 2023.
Skyline Financial Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Cressanda Solutions Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Jun 16, 2023
Entitlement Ratio
6 : 97
Open Date
Tue, Jun 27, 2023
Close Date
Tue, Jul 11, 2023
The full amount is payable on application.
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-18 | 24.36 | 0.11 | -0.01 |
| 31-Mar-19 | 24.27 | -0.09 | |
| 31-Mar-20 | 24.25 | -0.09 | |
| 31-Mar-21 | 24.20 | 0.09 | 0.00 |
| 31-Mar-22 | 41.11 | 0.24 | 0.27 |
| Amount in ₹ Crore | |||
Incorporated in 1983, Cressanda Solutions Limited is engaged in providing Information technology (IT), Digital Media, and IT-enabled services.
The company provides two types of products: Technology nXT and Infra nXT.
Technology nXT introduces disruptiveness in business processes to lower TAT (Turnaround time), incorporate simplicity, and standardization of business operations, enabling domain expertise and offering value-for-money solutions to the end customer. As part of the Technology nXT strategy, the company has acquired 'Lucida Technologies' a Bangalore-based Technology firm specializing in the areas of Digital and Analytics solutions, Machine Learning, and Artificial Intelligence.
Infra nXT projects will boast of Infrastructure projects based on the concept of tech n touch, to deliver efficient, connected, resilient, and agile assets, to build efficiency in operation, lowering TAT, and increasing employment, across industries. Focusing on verticals like healthcare, education, livelihood, financial services, and transportation amongst others.
[Dilip Davda] The company is operating in a highly competitive segment of IT. Its IPO is priced exorbitantly and to lure investors, its market price too is manipulated and is currently quoting at a P/E of 213. Minuscule holding of promoters indicates some vested interest operations on the counter. Its offer document has few anomalies and transparency is missing. Thus it is a “High Risk/Low Return” bet. There is no harm in avoiding it. Read detail review...
Cressanda Solutions Limited
Flat no.12A, 3rd Floor,
Embassy Centre, Jamnalal Bajaj Marg,
Plot no 207, Nariman Point Mumbai - 400 021
Nariman Point, Maharashtra, 400021
Skyline Financial Services Pvt.Ltd.
The Cressanda Solutions Rights Issue 2023 opens on Tue, Jun 27, 2023, and closes on Tue, Jul 11, 2023.
Cressanda Solutions Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Wed, Jun 21, 2023 |
| Last Date for renunciation of Rights Entitlements | Wed, Jul 5, 2023 |
| Issue Opening Date | Tue, Jun 27, 2023 |
| Issue Closing Date | Tue, Jul 11, 2023 |
| Date of Allotment (on or about) | Mon, Jul 17, 2023 |
| Date of Credit (on or about) | Wed, Jul 19, 2023 |
| Date of Listing (on or about) | Mon, Jul 24, 2023 |
You can apply for Cressanda Solutions Rights Issue 2023 in two ways:
Steps to apply for Cressanda Solutions Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for Cressanda Solutions Rights Issue 2023 using Registrar's website (R-WAP)
