Diligent Industries Rights Issue Date, Price, Allotment, Entitlement

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Last updated on November 11, 2024

Diligent Industries Rights Issue

Diligent Industries Rights Issue is scheduled on 11 – 25 Nov 2024

Diligent Industries is engaged in the manufacturing, processing, and trading of edible oils, food, feeds, and agricultural commodities in India. To strengthen its market presence, the company continually strives to utilize its available resources and production capacity at an optimal level to remain competitive and stable in the industry.

Diligent Industries has expanded into the refined edible oils segment, a move that is expected to enhance its market presence and brand recognition, while also driving increased revenue shortly. The company operates a state-of-the-art processing plant situated in a lush, green 20-acre facility in West Godavari, Andhra Pradesh.

As of 31 March 2024, Diligent Industries employed 22 full-time staff members and required approximately 50 daily wage workers to support its operations. Diligent Industries manufactures the following products:

  • Rice Bran Oil
  • Palm Kernel Oil
  • Cotton Oil
Diligent Industries Rights Issue Dates

Promoters of the Diligent Industries – Ratna Kumari Vankineni, Phani Anupama Vankineni, Vankineni Bhanu Prakash, Vankineni Kiran Kumar, Vankineni Vijaya Lakshmi, Vankineni Padma Kumari, and Kalagara Savithri


Diligent Industries Rights Issue Details

Diligent Industries Rights Issue Date11 – 25 November 2024
Diligent Industries Rights Issue PriceINR 3.6 per share
Issue Size (in Shares)13,72,32,000 shares
Issue Size (in INR)INR 49.40 crore
Issue Entitlement6 equity shares for every 5 equity shares held on record date
Terms of PaymentFully payable at the time of application
Diligent Industries Rights Issue Record Date24 October 2024
Face ValueINR 1 per share
Listing OnBSE

Diligent Industries Rights Issue Calculation

Diligent Industries Rights Issue PriceINR 3.6 per share
Market Price on Rights Issue ApprovalINR 5.05 per share
Dilution Factor (X)2.2
Fair Value After Dilution at Prevailing PriceINR 4.26 per share

Diligent Industries Financial Performance

 FY 2022FY 2023FY 2024
Revenue102121122
Expenses99119118
OPM (%)3.02.04.0
Net income1.372.172.03
ROCE (%)8.09.07.0
Figures in INR Crores unless specified otherwise

Diligent Industries Rights Offer Objectives

The net proceeds from the offer are proposed to be used for the following objective

  • Adjustment of Unsecured Loans against the Rights Entitlement of the Promoters
  • Towards meeting working capital requirements
  • General Corporate Purposes

Diligent Industries Rights Offer Documents


Diligent Industries Rights Issue Dates

Rights Issue Approval Date16 October 2024
Rights Issue Record Date24 October 2024
Credit of Rights Entitlement7 November 2024
Rights Issue Opening Date11 November 2024
Last Date for Market Renunciation18 November 2024
Rights Issue Closing Date25 November 2024
Finalization of Basis of Allotment29 November 2024
Rights Allotment Date30 November 2024
Credit Date 4 December 2024
Listing Date6 December 2024

Diligent Industries Rights Offer Registrar

VENTURE CAPITAL & CORPORATE INVESTMENTS PVT. LTD
“AURUM”, 4th & 5th Floors, Plot No.57, Jayabheri
Enclave Phase – II, Gachibowli, Hyderabad – 500032
Phone: +91 40 23818475 / 23818476
Email: [email protected]
Website: www.vccipl.com


Diligent Industries Issue Contact Details

DILIGENT INDUSTRIES LIMITED
Dwarka Thirumala Road, Dendurulu Village and
Mandal, West Godavari – 534 432, Andhra Pradesh, India
Phone: +91 8829-256077 / 08829-256099
E-mail: [email protected]
Website: www.diligentindustries.com


Diligent Industries Rights Offer FAQs

What is the Diligent Industries Rights Issue Price?

The issue price is INR 3.6 per share.

What is the Diligent Industries Rights Issue entitlement ratio?

The eligible shareholders are offered 6 Equity Shares for every 5 Equity Shares held on the record date.

What is the Diligent Industries Rights Issue Record Date?

The Record date is 24 October 2024.

How to Apply in the Diligent Industries Rights Offer?

The best way to apply in the Diligent Industries 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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