Global digital solutions provider jumped 13 percent in the day’s trade after the board of directors of the company declared raising of funds for the company by way of Rights issue in the ratio 2 shares for every 1 share for a sum of ~Rs. 27 Crores.
At 3:25 p.m the shares of Globalspace Technologies Limited were trading at Rs. 40.11 per share, up 3.48 percent from its previous day close price and its market capitalization is Rs. 46 Crores.
As per the company’s filing, the board of directors of Globalspace Developers Limited have approved and announced the raising of funds through issuance and allotment of 2,29,58,424 (~2.29 Crore) fully paid-up equity shares of face value of Rs.10, for an aggregate amount of upto Rs. 27,49,58,424 (Twenty-Seven Crores Forty Nine Lakhs Fifty Eight Thousand Four Hundred and Twenty Four) on right issue basis.
The Shares are being offered on a rights basis at Rs. 12 per share, to the existing eligible Shareholders in the ratio of 2 Right Shares for every 1 Equity Share (2:1) held as on the Record Date. The rights issue will open on November 16, 2023 and it will close on November 23, 2023.
The company’s revenue grew 111.53 percent from Rs. 9.11 Crores in FY22 to Rs. 19.27 Crores in FY23, accompanied by increasing profits of Rs. 0.01 Crore to Rs. 0.52 Crore.
In FY23 it has reported a return on equity (ROE) of 1.45 percent and a return on capital employed (ROCE) of 4.41 percent, it is making decent returns on its equity and it is trying to increase its probability by trying to make consistent returns once again.
Globalspace Technologies is a digital solutions provider, it partners with global and india’s leading life sciences organisation to help them navigate intricacies of a rapidly converging healthcare industry. It provides end-to-end offerings across consulting, healthcare solutions, products and digital marketing solutions etc.
Written by: Bharath K.S
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