Akshar Spintex Rights Issue is scheduled on 11 – 30 September 2024
Incorporated in 2013, Akshar Spintex is involved in the production and trading of spun cotton yarn. The company manufactures 100% cotton yarn which includes combed, semi-combed, and carded yarn. The company is engaged in the manufacturing of yarn viz. Combed Yarn, Semi Combed Yarn, and Carded Yarn.
Its registered office is situated at Survey No. 102 Kalavad Ranuja Road, Kalavad District Rajkot, Gujarat. The manufacturing facility of the company is situated at Kalavad of Rajkot District in Gujarat state in 1,83,437 sq. ft. area which is in the vicinity of the rich cotton growing areas of Gujarat. The company has installed a capacity of a total of 24,480 spindles.
ASL sells cotton yarn to its customers located in Gujarat and outside Gujarat. Top 5 customers form 64% of its sales in FY 2023.
Promoters of Akshar Spintex – Mr. Harikrushna Shamjibhai Chauhan, Mr. Amit Vallabhbhai Gadhiya, Mrs. Rekhaben Harikrushnabhai Chauhan
Table of Contents
Akshar Spintex Rights Issue Details
| Akshar Spintex Rights Issue Date | 11 – 30 September 2024 |
| Akshar Spintex Rights Issue Price | INR 1 per share |
| Issue Size (in Shares) | 48,74,80,500 shares |
| Issue Size (in INR) | INR 48.75 crore |
| Issue Entitlement | 13 equity shares for every 8 equity shares held on record date |
| Terms of Payment | |
| Akshar Spintex Rights Issue Record Date | 23 August 2024 |
| Face Value | INR 1 per share |
| Listing On | NSE, BSE |
Akshar Spintex Rights Issue Calculation
| Akshar Spintex Rights Issue Price | INR 1 per share |
| Market Price on Rights Issue Approval | INR 1.99 per share |
| Dilution Factor (X) | 2.625 |
| Fair Value After Dilution at Prevailing Price | INR 1.38 per share |
Akshar Spintex Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 172.11 | 135.53 | 174.96 |
| Expenses | 161.74 | 137.84 | 168.56 |
| Operating Margin (%) | 9.52 | 1.33 | 6.11 |
| Net Income | 6.98 | (2.76) | 3.46 |
| ROCE (%) | 19 | (4) | 10 |
Akshar Spintex Rights Offer Documents
- Akshar Spintex Rights Issue Application Form
- Akshar Spintex Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Akshar Spintex Rights Issue Dates
| Rights Issue Approval Date | 17 August 2024 |
| Rights Issue Record Date | 23 August 2024 |
| Credit of Rights Entitlement | 4 September 2024 |
| Rights Issue Opening Date | 11 September 2024 |
| Last Date for Market Renunciation | 24 September 2024 |
| Rights Issue Closing Date | 30 September 2024 |
| Finalization of Basis of Allotment | 8 October 2024 |
| Rights Allotment Date | 9 October 2024 |
| Credit Date | 14 October 2024 |
| Listing Date | 15 October 2024 |
Akshar Spintex Rights Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone:Â +91 22 6263 8200
Email:Â [email protected]
Website:Â www.bigshareonline.com
Akshar Spintex Issue Contact Details
Akshar Spintex LIMITED
Revenue Survey No. 102/2, Paiki, Plot No. 2
Village – Haripar, Ranuja Road, Tal – Kalavad
Jamnagar – 361 013
Phone:Â 98252 13622
Email:Â [email protected]
Website: www.aksharspintex.in
Akshar Spintex Rights Offer FAQs
What is Akshar Spintex Rights Issue Price?
The issue price is INR 1 per share.
What is Akshar Spintex Rights Issue entitlement ratio?
The eligible shareholders are offered 13 Equity Shares for every 8 Equity Shares held on the record date.
What is Akshar Spintex Rights Issue Record Date?
The Record date is 23 August 2024.
How to Apply in Akshar Spintex Rights Offer?
The best way to apply in Akshar Spintex Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
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