On January 8, 2025, GTT Data Solutions Limited, formerly known as Cinerad Communications Limited, announced through an exchange filing that it had fixed January 14, 2025, as the record date. This date will determine whether the shareholders are eligible to apply for equity shares in the proposed rights issue.
On December 14, 2024, the Rights Issue Committee, constituted by the Board of Directors, approved the issuance of partly paid-up equity shares. These shares will have a face value of ₹10 each and will be offered to the members of the company as of the record date, which is to be finalised. The rights issue will aggregate up to ₹49.99 crore, with the exact number of shares and issue price (including any premium) to be determined by the Board or Rights Issue Committee.
GTT Data Solutions Limited entered into a Share Purchase Agreement (SPA) on December 31, 2024, for the acquisition of up to 10,000 equity shares of ₹10 each of CRG Solutions Private Limited. These shares represent 100% of the paid-up equity share capital of CRG. The total consideration for this acquisition is approximately ₹72 Crores, which may be settled either by cash payment via bank remittance or by the issue and allotment of new equity shares of GTT Data Solutions to the sellers. However, the total number of shares allotted to the sellers will not exceed 24% of the company’s outstanding paid-up capital.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 9, 2025, 8:43 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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