Stock market news: Quicktouch Technologies shares rise 5 percent

The approval for this was given by the Board of Directors of the Company during its meeting held on Thursday, i.e. on November 16, 2023.

Stock market news: Shares of Quicktouch Technologies Limited, a leading software development company based in New Delhi and Bengaluru, rose 5 percent to Rs 205.90 per share from its previous close. The scrip had closed at Rs 196.1 per share on Thursday. The stock’s 52-week high and low are Rs 274 and Rs 110.60 respectively. The rise in share price comes as the company has announced its plan to increase issuance of up to one crore ten lakh warrants to raise around Rs 215 crore.

The approval for this was given by the Board of Directors of the Company during its meeting held on Thursday, i.e. on November 16, 2023.

“To issue up to 1,10,00,000 (One Crore and Ten Lakhs) warrants, each convertible into, or exchangeable for, 1 (one) fully paid equity share of the Company, having face value of INR 10/- (Rupee Ten only) within the period of 18 (eighteen months) in accordance with applicable law (“Warrants”) at an issue price of 196.17/- (Rupees One Ninety Six and Seventeen Paisa only), each payable in cash of an aggregate amount of up to 215 78,70,000 (Rupees Two Hundred Fifteen Crores Seventy Eight Lakhs Seventy Thousand Only),” the company said in an exchange filing.

The proposed issuance is subject to the approval of the company’s shareholders and other regulatory authorities. The company expects to complete the issuance within the next 18 months.