Silph Technologies, a small-cap company, saw a significant rise in its stock price today, December 6. The stock hit an upper circuit of 10%, reaching an intraday high of ₹1.27.
This surge came after the company’s board approved a plan to raise funds through a rights issue of shares.
Following this announcement, the stock opened at ₹1.25 on the Bombay Stock Exchange (BSE), higher than the previous close of ₹1.16, and climbed to ₹1.27 during the day.
Details of the Rights Issue
The company’s board has approved raising ₹49 crore by issuing equity shares with a face value of ₹1 each. These shares will be offered on a rights issue basis to eligible shareholders.
The record date for the rights issue will be announced later. To manage the process, the board has formed a Rights Issue Committee, chaired by Minaxi Pareek, with Pankaj Kalra and Pranay Vaidya as members.
Overview of Silph Technologies
Silph Technologies, a software technology firm, has a market capitalization of over ₹45 crore.
The company’s services include software development, web and product development, strategy consulting, e-commerce solutions, and mobile enablement.
Despite recent gains, the stock has shown mixed performance this year.
It has risen nearly 30% in a week and 21% in a month but is down 36% in six months and has declined 70% year-to-date.
About Silph Technologies
Silph Technologies is a small-cap company with a market capitalization of over ₹45 crore.
Its stock has seen an increase of nearly 30% over the past week and 21% over the past month. However, the stock has experienced a decline of 36% over the past six months and a sharp drop of 70% year-to-date (YTD).
The company is involved in software technology, offering services such as software development, web development, product development, strategy consulting, offshore software development, and e-commerce solutions for web and mobile platforms.
