Defence stock: Avantel Ltd announces 10:121 rights issue

Avantel Limited is prominent Indian technology company specialising in advanced communication and technology solutions for defence and aerospace. The board approved rights issue of up to 2.02 crore shares at ₹40 each, aiming to raise ₹8090.44 lakh. The record date is May 7, 2025. Opening May 15 and closing May 22, eligible shareholders get 10 shares for every 121 held.