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Compuage rights issue subscribed 0.84x on back of strong demand

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Business | November 30, 2022 12:59:57 PM IST
New Delhi [India], November 30 (ANI/PNN): Compuage Infocomm Ltd. (BSE CODE: 532456, NSE CODE: COMPINFO), one of India's leading Value-Added Distributors that caters to system integrators, brand stores, enterprises, retailers and more, has offered right issue in the ratio of 8:25.

The Company is offering Rights Issue of 2,07,92,258 equity shares of Rs 2 at price of Rs 20. Post issue, the diluted equity will be Rs 17.15 crore The Company will garner Rs 41.58 crore to be put to use for working capital of Rs 31.79 crore and general corporate purpose of Rs 9.00 crore.

Renunciation of Rights Entitlements is on November 29 and the cumulative bid quantity as on date is 1,74,63,058 which is 0.84x of offered quantity.

The right issue is offered at an attractive P/E of 5.87x its annualized FY23 EPS of Rs 3.40.

Right issue open/close dates: November 23, 2022 / December 2, 2022.

Established in 1987 and listed in 2000, Compuage Infocom (Compuage), is a distribution house creating opportunities for its channel partners through aggressive market development backed by efficient supply chain management.

Compuage focuses on Enterprise Solutions, Cloud Computing, PCs & Peripherals and Hardware Services.

With 46 sales offices, 27 warehouses, 69 service centres and a team of over 700+ professionals, Compuage represents 28+ global brands and supports over 12,000 online & offline retailers, resellers and system integrators.

The company is a strategic link between vendors (brands) and partners (resellers), equipping them for unprecedented levels of business performance.

For FY22, the Company has reported total income of Rs 4,224 crore and net profit of Rs 26.7 crore.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

 
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