Stock Market Today, May 5 -- Small-cap stock Avantel gained more than 7% during the intraday trade on Monday, May 5, on plans to raise funds through rights issue. As per Avantel, it plans to raise Rs.80.90 crore through the rights share issue.

Avantel Ltd had intimated the National Stock Exchange of India and the BSE (Bombay stock Exchange that the Board of Directors meeting held on. May 1, 2025, had considered and approved the terms of the Rights Issue.

The funds will be allocated toward expanding the company's manufacturing facility infrastructure. The rights issue is scheduled to open on May 15, 2025, and will close on May 22, 2025.

As per the release the proposed securities for fund raising are Fully paid-up Equity Shares of face v...