Containe Technologies has launched a rights issue to raise ₹20.98 crore, with the offer set to close on September 25. According to a company statement, the issue opened on August 31 and will conclude on September 25. The company is offering equity shares at ₹15 apiece in a 1:2 ratio, entitling eligible shareholders to one new share for every two shares held.
Proceeds from the issue will be utilized for working capital requirements, adjustment of unsecured promoter loans and general corporate purposes. As reported by the company, this structured approach aims to strengthen the company's financial position while addressing immediate operational needs and debt obligations.
The new shares are scheduled to be listed on the BSE SME platform on September 30, following allotment on September 28. According to the company statement, this timeline provides adequate time for the completion of the rights issue process and subsequent listing procedures on the SME platform.
