Avantel Limited's Board of Directors, in a meeting held on May 1, 2025, approved the terms of a Rights Issue:

• Type of Securities: Fully paid-up Equity Shares of face value ₹2/- each.
• Number of Shares: Up to 2,02,26,100 Equity Shares.
• Issue Price: ₹40/- per Rights Equity Share (including a premium of ₹38/-).
• Issue Size: ₹8090.44 lakhs.
• Payment Terms: Full amount of ₹40/- payable on application.
• Record Date: May 7, 2025, to determine eligible shareholders.
• Issue Period: Opens on Thursday, May 15, 2025, and closes on Thursday, May 22, 2025. The last date for market renunciation is Tuesday, May 20, 2025.
• Rights Entitlement Ratio: 10 Rights Equity Shares for every 121 Equity Shares held as on the record date.
• Outstanding Shares: 24,47,35,820 Equity Shares prior to the issue; estimated 26,49,61,920 Equity Shares post-issue (assuming full subscription). The board also adopted the Letter of Offer to be filed with BSE, NSE, and SEBI.