Varanium Cloud Limited, a Mumbai-based technology solutions company, plans to raise Rs. 49.46 crore through a rights issue on 28th September 2023, priced at Rs. 123/- per share. The funds raised through the issue will be utilized to meet the working capital requirements, fund company’s expansion plans and for general corporate purposes.Rights Issue will close on 4th October 2023.
The company plans to issue 40,20,574 fully-paid equity shares of face value of Rs. 5 each at a price of Rs. 123/- per rights share, totaling Rs. 49.46 crore. The rights entitlement ratio is 1:10, with 1 rights equity share for every 10 equity shares held by eligible shareholders. Shareholders must pay 50% – Rs. 61.5/- per share on rights issue application and the remaining 50% – Rs. 61.5/- per share on one or more calls as decided by the board.
Varanium Cloud Limited, a technology company, has unveiled a cloud-based medical wearable device called “Vyana” in partnership with QMS MAS (Medical Allied Services). The device aims to provide timely assistance and monitor vital parameters, send instant notifications, and directly contact users and emergency contacts in case of significant fluctuations, making it suitable for high-risk groups.