Avantel (AVANTEL) — Corporate Action

Avantel Limited disclosed that CARE Ratings' Monitoring Agency Report for Q1FY26 confirms appropriate utilization of Rs. 80.91 crore raised via rights issue, with no deviations from offer objectives. Funds were deployed toward manufacturing facility setup and GSaaS infrastructure, though GSaaS capital expenditure faced regulatory delays. The Board redirected unutilized GSaaS funds toward antenna equipment procurement to support NSIL orders, maintaining compliance with issue terms.

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About Avantel Limited (AVANTEL)

Capital Goods · Aerospace & Defense · Listed on NSE

Market Cap: ₹3,994.43 Cr P/E: 266.1

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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