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Indian Infotech And Software Ltd. — Capital/Financing Update 2025
Jan 30, 2025
63337_rns_2025-01-30_6e4b3ec6-c4b3-4b27-942c-3ea222e8da63.pdf
Capital/Financing Update
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CIN-L70100MH1982PLC027198 www.indianinfotechandsoftwareltd.in
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Date: 30[th] January, 2025
To, BSE Ltd. Regd. Office: Floor - 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001.
Scrip Code – 509051
Subject: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) - Regulation 2015 Outcome of Board Meeting held on 30[th] January, 2025.
We wish to inform you that the meeting of the Board of Directors of Indian Infotech & Software Limited held at on today Thursday i.e. 30 [th] January, 2025 at the registered office of the company, the board discuss the following matters:
The Board of Directors re-discussed the preferential issue which was discussed and approved in its meeting held on 29[th] January, 2025, the board further took on records further consent and intent received by company today from proposed investors for this preferential issue, accordingly the issue size, number of warrants and number of investors in preferential issue has been changed, the board of director’s reconsider, discussed and approved the following as follows:
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The Board took on records the Valuation Report of equity shares of the Company issued by Bhavesh M Rathod Registered Valuer - Securities or Financial Assets (Reg. No: IBBI/RV/06/2019/10708) and Certificates required for preferential issue under Chapter – V of SEBI (ICDR) Regulations issued by Practicing Company Secretary & Practicing Chartered Accountant with regards to the proposed Preferential Issue.
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"The Board of Directors has approved the final fund raising through a preferential issue, up to Rs. 56,14,00,000/- (Rupees Fifty-Six Crore Fourteen Lakhs only), through the issue and allotment of up to 40,10,00,000 (Forty Crore Ten Lakh) Warrants, each having a face value of Re. 1/- (Rupee One Only). Each warrant will be convertible into equity shares, with the right to exercise the warrant(s) at a price of Rs. 1.40/- per warrant (inclusive of both the warrant subscription price and the warrant exercise price). This price has been determined in accordance with the applicable provisions of Chapter V of the SEBI (ICDR) Regulations, 2018, as amended.
The issue will be subject to the approval of the shareholders at an Extraordinary General Meeting (EGM) and, if required, the approval of the relevant regulatory authorities in accordance with SEBI (ICDR) Regulations and other applicable laws."
The details as required under SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023 with respect to issuance of securities is enclosed as Annexure - A.
The list of proposed allottees is enclosed as Annexure – I.
- The Board has approved the Notice of Extra Ordinary General Meeting as per new list of proposed allottees and increased size of issue which will be held through Video Conferencing (VC)/AOVM;
Regd. Off: 110, 1[ST] Floor, Golden Chamber Pre CO-OP Soc. Ltd. New Link Road Andheri (W) Mumbai 400053 Email ID: [email protected]; Website: https://indianinfotechandsoftwareltd.in Tel. No. 022 - 49601435
CIN-L70100MH1982PLC027198 www.indianinfotechandsoftwareltd.in
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- The Board has appointed Mr. Brajesh Gupta, Practicing Company Secretary (ACS 33070; CP No. 21306), Proprietor of M/s Brajesh Gupta & co, Practicing Company Secretaries as Scrutinizer to conduct the e-voting process in fair and transparent manner.
Preferential issue (Size, Price, Number of warrants, Name of Allottees) has been finalized in today’s board meeting and accordingly the board has approved and finalize the EOGM Notice which will be held through Video Conferencing (VC/AOVM).
Further, pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for all Directors, Designated Persons, their immediate relatives, and specified Connected Persons is already closed as per our trading window closure intimation dated 26th December 2024 effective from 01st January, 2025 to until forty-eight (48) hours after the announcement of Financial results of December, 2024 Quarter by the Company.
The meeting of the Board of Directors commenced at 7:30 P.M. and concluded at 8:10 P.M.
Please take the same on your record and acknowledge the receipt of the same.
Thanking You. Yours Faithfully For Indian Infotech & Software Limited ANANT Digitally signed by ANANT CHOURASIA CHOURASIA Date: 2025.01.30 20:27:55 +05'30' Anant Chourasia Managing Director DIN: 09305661
Regd. Off: 110, 1[ST] Floor, Golden Chamber Pre CO-OP Soc. Ltd. New Link Road Andheri (W) Mumbai 400053 Email ID: [email protected]; Website: https://indianinfotechandsoftwareltd.in Tel. No. 022 - 49601435
CIN-L70100MH1982PLC027198 www.indianinfotechandsoftwareltd.in
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ANNEXURE A
The details as required under SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023 with respect to issuance of securities is as follows:
| Sr. No |
Particulars | Details |
|---|---|---|
| 1. | Outcome of the Subscription, type of issue, type of securities and total number of securities |
Warrants (Convertible in to Equity shares) |
| 2. | Issue Price / Allotted Price (in case of Convertible Equity Share Warrants) ; |
The warrants will be allotted at a price Rs. 1.40/- each (which includes premium of Rs. 0.40/- per warrant) The warrants allotted can be converted into equal number of fully paid up equity shares upon receipt of the balance amount within the stipulated time i.e. 18 months from the date of allotment of Warrants. |
| 3. | Issue Size and Number Securities proposed to be issue |
Up to Rs. 56,14,00,000/- (Rupees Fifty- Six Crore Fourteen Lakh only). By Issue and allotment of Up to 40,10,00,000 (Forty Crore Ten Lakh) Warrants. |
| 4. | Number of Investors | Annexure 1(list ofproposed allottees) |
| 5. | In case of convertibles -intimation on conversion of securities or on lapse of the tenure of the instrument |
NA |
| 6. | any cancellation or termination of proposal for issuance of securities including reasons thereof. |
NA |
For Indian Infotech & Software Limited
ANANT Digitally signed by ANANT CHOURASIA CHOURASIA Date: 2025.01.30 20:28:09 +05'30' Anant Chourasia Managing Director DIN: 09305661
Regd. Off: 110, 1[ST] Floor, Golden Chamber Pre CO-OP Soc. Ltd. New Link Road Andheri (W) Mumbai 400053 Email ID: [email protected]; Website: https://indianinfotechandsoftwareltd.in Tel. No. 022 - 49601435
CIN-L70100MH1982PLC027198 www.indianinfotechandsoftwareltd.in
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List of Proposed Preferential Allottees
Annexure-1
| Serial No |
Client Name | Category | Type of Securities |
No of securities |
|---|---|---|---|---|
| 1 | Wessel ConsultancyPvt Ltd | Non-Promoter | Warrants | 2,98,00,000 |
| 2 | Mala | Non-Promoter | Warrants | 2,98,00,000 |
| 3 | Prafful Agarwal | Non-Promoter | Warrants | 2,68,00,000 |
| 4 | Ashok Kumar Agarwal | Non-Promoter | Warrants | 1,38,00,000 |
| 5 | Mahir Sarju Desai | Non-Promoter | Warrants | 1,30,00,000 |
| 6 | Archana Agarwal | Non-Promoter | Warrants | 98,00,000 |
| 7 | Aakash Kapil | Non-Promoter | Warrants | 98,00,000 |
| 8 | Amit Verma | Non-Promoter | Warrants | 98,00,000 |
| 9 | Garima Verma | Non-Promoter | Warrants | 98,00,000 |
| 10 | SandeepKumarJain | Non-Promoter | Warrants | 60,00,000 |
| 11 | GracyNegi | Non-Promoter | Warrants | 48,00,000 |
| 12 | Reeta Datta | Non-Promoter | Warrants | 48,00,000 |
| 13 | Rahul Kumar Kacchal HUF | Non-Promoter | Warrants | 40,00,000 |
| 14 | Divya Kacchal | Non-Promoter | Warrants | 40,00,000 |
| 15 | Tasavar | Non-Promoter | Warrants | 35,00,000 |
| 16 | Aabad | Non-Promoter | Warrants | 35,00,000 |
| 17 | Sonali Agarwal | Non-Promoter | Warrants | 30,00,000 |
| 18 | Kavita Monga | Non-Promoter | Warrants | 30,00,000 |
| 19 | Amisha Amit Doshi | Non-Promoter | Warrants | 30,00,000 |
| 20 | Rohini Agarwal | Non-Promoter | Warrants | 20,00,000 |
| 21 | Muskan Aggarwal | Non-Promoter | Warrants | 15,00,000 |
| 22 | Ritik Aggarwal | Non-Promoter | Warrants | 15,00,000 |
| 23 | Girish Kumar Aggarwal | Non-Promoter | Warrants | 10,00,000 |
| 24 | Suruchi | Non-Promoter | Warrants | 10,00,000 |
| 25 | ParulJain | Non-Promoter | Warrants | 10,00,000 |
| 26 | Suman Gholap | Non-Promoter | Warrants | 5,00,000 |
| 27 | Abhilasha Chaudhary | Non-Promoter | Warrants | 5,00,000 |
| 28 | SAPPERS INFRA REATORS PVT LTD | Non-Promoter | Warrants | 2,00,00,000 |
| 29 | COMELY ELECTRICAL PVT LTD | Non-Promoter | Warrants | 2,00,00,000 |
| 30 | BALAJI FOREX INDIA PVT LTD | Non-Promoter | Warrants | 2,00,00,000 |
| 31 | WIDESPREAD MEDIA PVT LTD | Non-Promoter | Warrants | 2,00,00,000 |
| 32 | DISSEMINATE MULTIMEDIA PVT LTD | Non-Promoter | Warrants | 2,00,00,000 |
| 33 | GENEROSITY SHARE TRADING PRIVATE LIMITED |
Promoter | Warrants | 10,00,00,000 |
| Total | 40,10,00,000 |
For Indian Infotech & Software Limited
ANANT Digitally signed by ANANT CHOURASIA CHOURASIA Date: 2025.01.30 20:28:22 +05'30' Anant Chourasia Managing Director DIN: 09305661
Regd. Off: 110, 1[ST] Floor, Golden Chamber Pre CO-OP Soc. Ltd. New Link Road Andheri (W) Mumbai 400053 Email ID: [email protected]; Website: https://indianinfotechandsoftwareltd.in Tel. No. 022 - 49601435