Avantel Limited Reports Proper Utilization of Rs 80.91 Crore Rights Issue Proceeds 1 day ago
Avantel Limited has submitted its monitoring agency report for Q2 2023, confirming the appropriate use of Rs 80.91 crore raised through a Rights Issue. The company utilized Rs 26.49 crore during the quarter, with Rs 5.60 crore for a new manufacturing facility, Rs 19.94 crore for general corporate purposes, and Rs 0.95 crore for issue-related expenses. The remaining Rs 54.42 crore is held in a monitoring account. The Rights Issue aimed to fund capital expenditure for a new manufacturing facility and GSaaS infrastructure. Avantel's Q2 standalone results show revenue of Rs 5,183.65 lakh and net profit of Rs 462.40 lakh.
AVANTEL Reports Flat Q1 Revenue Growth with Significant Profit Decline 1 day ago
Avantel Limited Mourns the Loss of Promoter Mr. Abburi Venkateswara Rao 4 days ago
Avantel Secures Rs 5.97 Crore SATCOM Equipment Order from Goa Shipyard Jul 01, 2025
Avantel Secures ₹13 Crore Contract from DRDO for Defense-Related Products Jun 21, 2025
More news about Avantel
21Jun 25
Avantel Secures ₹11 Crore Order from Mazagon Dock Shipbuilders
Avantel Limited has received an order worth ₹11.00 crore from Mazagon Dock Shipbuilders. This order is expected to boost Avantel's revenue and potentially strengthen its position in the defense and maritime technology sectors. The partnership with Mazagon Dock Shipbuilders, a key player in India's shipbuilding industry, may lead to future collaborations. Specific details about the products or services involved in the order have not been disclosed.
11Jun 25
Avantel's Subsidiary to Launch State-of-the-Art Medical Products Facility in Visakhapatnam
Avantel Limited's subsidiary, Imeds Global Private Ltd, is set to open a new facility for medical product design, development, and manufacturing in Visakhapatnam. The 2-acre complex will feature 25,000 sq. ft. of built-up area, including clean rooms and testing infrastructure. The facility is scheduled to begin operations on June 15, 2025, marking Avantel's strategic expansion into the healthcare sector.
10Jun 25
Avantel Subsidiary to Launch New Medical Product Facility in Visakhapatnam
Avantel Limited's subsidiary, Imeds Global Private Ltd, is set to open a new medical product facility in Visakhapatnam. The 2-acre site will include 25,000 square feet of construction area with clean rooms and advanced testing facilities. The facility, focusing on design, development, and manufacturing of medical products, is scheduled to start operations on June 15, 2025. This expansion represents a significant move into the healthcare sector for Avantel, potentially diversifying its revenue streams and opening new market opportunities.
01May 25
Avantel Unveils ₹809 Crore Rights Issue at ₹40 Per Share
Avantel Limited has approved a rights issue to raise ₹809 crore. The issue offers 2,02,26,100 shares at ₹40 per share, with a rights entitlement ratio of 10:121. The issue opens on May 15, 2025, and closes on May 22, 2025, with a record date of May 7, 2025. Post-issue, the company's outstanding equity shares will increase to 26,49,61,920, subject to full subscription.
26Apr 25
Avantel Reports Mixed Q4 Results: Revenue Up, Profits Down
Avantel Limited's Q4 FY2024-25 results show revenue growth of 17.70% YoY to 492.00 crore rupees, but decreased profitability. Net profit dropped to 61.00 crore rupees from 121.00 crore rupees last year. Full-year results were more positive with 11.00% revenue growth and 7.40% net profit increase. The company declared a final dividend of 0.20 rupees per share and announced plans for a rights issue to raise up to 81.00 crore rupees. Avantel is also diversifying into the healthcare sector.
25Feb 25
Avantel Ltd Secures ₹43.25 Crore Order from ISRO's Commercial Arm for Coastal Security Enhancement
Avantel Ltd has received a ₹43.25 crore order from NewSpace India Limited (NSIL), ISRO's commercial arm, for 45,252 Xponder devices to enhance coastal security. The order, to be delivered by August 2025, builds on Avantel's previous successful collaborations with NSIL and ISRO. The news triggered a 13% surge in Avantel's stock price, reflecting investor confidence in the company's growth prospects in the defense and space sectors.