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Heads Up Ventures Gives Shareholders a ₹990 Million ‘Right’ to Grow

Updated: April 28, 2025 18:15

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Heads Up Ventures Limited has made a major decision to shore up its capital by approving a rights issue to raise as much as ₹990 million. The board approved the move at a meeting on April 28, 2025, for increasing the company's resources for capitalizing on its growth strategy and business expansion.
 
Brief Introduction
In a strategic move to support its capital base, Heads Up Ventures Limited board has issued a rights issue, offering existing shareholders a chance to be part of the company's future growth. This injection of capital will help the company focus more on new business opportunities and consolidate its market position.
 
Board Approval and Purpose
  • The board of Heads Up Ventures Limited convened on April 28, 2025, and authorized raising up to ₹990 million by way of a rights issue.
  • The main purpose is to strengthen the financial resources of the company for business growth, working capital requirements, and other strategic purposes.
Increase in Authorized Share Capital
  • To enable the rights issue, the company sought and received shareholder approval to raise its authorized share capital from ₹400 million to ₹900 million.
  • The new authorized capital is ₹900 million, consisting of 90 million equity shares of ₹10 each.
Rights Issue Details
  • The rights issue will be made available to current shareholders, enabling them to subscribe to extra shares in proportion to their existing holdings.
  • The company can issue equity shares, convertible instruments, or other securities, as approved.
Shareholder Participation
  • Shareholders as of record date will be entitled to join the rights issue.
  • The e-voting facility for shareholder approvals is being facilitated by MUFG Intime India Pvt. Ltd.
Regulatory Compliance
  • The action is consistent with SEBI (LODR) Regulations, 2015, and with a view to ensure transparency and adherence to statutory requirements.
  • Requisite changes have been incorporated into the Memorandum and Articles of Association to denote the rise in authorized capital.
Strategic Rationale
  • The funds raised will enable Heads Up Ventures Limited to take advantage of future opportunities, invest in new businesses, and improve its balance sheet.
  • This rights issue is one element of the company's overall strategy to create long-term value for its stakeholders.
Relevant Sources: NSE Corporate Announcement, BlinkX, MarketScreener, Moneycontrol, Economic Times

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