Cressanda Solutions Limited Rights Issue: Things You Need to Know

Cressanda Solutions Limited, a tech firm based in India, has revealed plans for a rights issue in a 6:97 proportion. The pricing for each equity share is fixed at Rs 20, which includes a premium of Rs 19. The company has marked Friday, June 16, 2023, as the record date for the rights issue. This rights issue is scheduled to open on Tuesday, June 27, 2023, and wrap up on Tuesday, July 11, 2023.

The company’s recent quarterly and annual results showcase notable financial success. Q4FY23 net sales surged by an astounding 35,526 per cent, reaching Rs 14.96 crore, and the net profit skyrocketed by 798.12 per cent to Rs 1.91 crore compared to Q4FY22. For FY23, net sales increased by a dramatic 46,796.80 per cent to Rs 86.76 crore, and the net profit jumped by 2,177.53 per cent to Rs 6.08 crore compared to FY22.

Shares of Cressanda Solutions Limited experienced a slight uptick of 0.55 per cent on Thursday, closing at Rs 29.45 per share. The company’s shares witnessed an intraday high and low of Rs 30 and Rs 29.10, respectively. Looking back over the last 52 weeks, the stock’s high was Rs 42.25, with a low of Rs 17.35.

As a small-cap enterprise, Cressanda carries a market capitalisation of Rs 1,174 crore and has demonstrated a compelling 5-year CAGR of 64 per cent. In a short time frame of two years, the stock has shown an extraordinary growth of 3,000 per cent in returns, thereby exceeding the performance of the BSE small-cap Index, which has seen a rise of 22 per cent. Remarkably, the company’s stock soared from Rs 0.19 to Rs 29.85 per share, delivering an impressive return of over 15,000 per cent in just three years. This IT stock currently on the rise is worth keeping under observation by investors. It would be wise for investors to closely monitor this emerging IT stock.

Cressanda Solutions Limited Product Portfolio

Established in 1983, Cressanda Solutions Limited is a company that delivers services in the areas of Information Technology (IT), Digital Media, and IT-enabled solutions.

Technology nXT aims to introduce disruptive elements into business procedures to decrease Turnaround Time (TAT) and simplify and standardise business operations while also providing domain expertise and cost-effective solutions for the ultimate customer. In alignment with the Technology nXT strategy, Cressanda acquired ‘Lucida Technologies’, a tech firm based in Bangalore. Lucida specialises in Digital and Analytics solutions, along with Machine Learning and Artificial Intelligence.

On the other hand, Infra nXT projects are centred around developing infrastructure based on a unique blend of technology and human touch. These projects aim to deliver efficient, interconnected, resilient, and flexible assets that enhance operational efficiency, reduce TAT, and stimulate job creation across various industries. Infra nXT particularly focuses on sectors like healthcare, education, financial services, livelihood, and transportation.

Financial Performance of Cressanda Solutions Limited (In Crore)

Period Ended	Total Assets	Total Revenue	Profit After Tax
31-Mar-18	24.36	0.11	-0.01
31-Mar-19	24.27		-0.09
31-Mar-20	24.25		-0.09
31-Mar-21	24.2	0.09	0
31-Mar-22	41.11	0.24	0.27

Important Dates for Cressanda Solutions Limited Rights Issue

Issue Open	June 27, 2023 – July 11, 2023
Security Name	Cressanda Solutions Limited
Issue Size (Shares)	24,649,206
Issue Size (Amount)	Rs 49.30 Crores
Issue Price	Rs 20 per share
Face Value	Re 1 per share
Listing At	BSE
Terms of Payment	The full amount is payable on application.
Entitlement	6 Rights Equity Share(s) for every 97 fully paid-up Equity Shares held on Record Date

Tentative Timetable of Cressanda Solutions Limited

Last Date to buy shares	Jun 15, 2023
Record Date	Jun 16, 2023
Credit of Rights Entitlements	Jun 21, 2023
Bid/Offer Opens On	Jun 27, 2023
Renunciation of Rights Entitlements	Jul 5, 2023
Bid/Offer Closes On	Jul 11, 2023
Deemed Date of Allotment	Jul 17, 2023
Credit Date	Jul 19, 2023
Listing Date	Jul 24, 2023

How to Apply

Wait for the public issue to open for subscription, then click on this link to apply for the Cressanda Solutions Limited Rights Issue with Bigul https://www.bonanzaonline.com

How to Check Allotment Status

The registrar for Cressanda Solutions Limited Rights Issue is Skyline Financial Services Private Ltd. You can check the company website for allotment once it is announced.

FAQs

1. What is the rights issue of Cressanda Solutions Limited?
Cressanda Solutions Limited, a tech company from India, has announced a rights issue in the ratio of 6:97. Each equity share is priced at Rs 20, inclusive of a premium of Rs 19 per share.

2. When is the record date for the rights issue?
The record date for the rights issue has been set for Friday, June 16, 2023.

3. What are the dates for the rights issue opening and closing?
The rights issue will open on Tuesday, June 27, 2023, and close on Tuesday, July 11, 2023.

4. What does Cressanda Solutions Limited do?
Established in 1983, Cressanda Solutions Limited offers services in Information Technology (IT), Digital Media, and IT-enabled solutions.

5. How to apply for the Cressanda Solutions Limited Rights Issue?
Once the public issue opens for subscription, you can apply for the Cressanda Solutions Limited Rights Issue via this link: https://www.bonanzaonline.com/

6. How can I check the allotment status for the rights issue?
Skyline Financial Services Private Ltd. is the registrar for the Rights Issue. You can check your allotment status by visiting this link: https://www.skylinerta.com/