Cybermate Infotek, which postponed its rights issue last year, has revived its plans to make an issue by end of April. The company has announced a record date on March 3 for the shareholders to issue shares on 2:1 basis at par value.
It will issue 48,70,650 equity shares to mop up Rs 4.87 crore. The proceeds will be utilised to invest in its US subsidiary and augment its working capital. Post issue, the equity of the company will increase to Rs 14.62 crore from Rs 9.74 crore.
Though the current share price is around Rs 4, the management of the company is confident about getting subscription for rights issue.