Franklin Industries Rights Issue is scheduled on 24 May – 11 June 2024
Franklin Industries trades agricultural commodities, including wheat, rice, maize, and vegetables such as capsicum and tomato. The company also trades fruits such as mango, watermelon, and grapes, as well as other agricultural products. Additionally, Franklin Industries engages in contract manufacturing for agricultural products like cucumber, onion, and castor.
The company acquires agricultural products from manufacturers either by making advance payments or following agreed terms. These products are then sold to its network of distributors. Due to its market presence, Franklin Industries has established strong relationships with both farmers and the wholesaler and retailer community.
In contract manufacturing, the company leases agricultural land to grow cucumber, onion, and castor to meet market demand. A portion of the yield is shared with farmers working on a contractual basis on the leased land, which supports the local farming community. As of February 2023, the company has exited the jewelry business, which involved trading gold and silver jewelry.
Promoters of Franklin Industries – Does not have an Identifiable Promoter
Table of Contents
Franklin Industries Rights Issue Details
| Franklin Industries Rights Issue Date | 24 May – 11 June 2024 |
| Franklin Industries Rights Issue Price | INR 3.58 per share |
| Issue Size (in Shares) | 10,84,50,000 shares |
| Issue Size (in INR) | INR 38.83 crore |
| Issue Entitlement | 3 equity shares for every 1 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Rights Issue Record Date | 13 May 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Franklin Industries Rights Issue Calculation
| Franklin Industries Rights Issue Price | INR 3.58 per share |
| Market Price on Rights Issue Approval | INR 6.44 per share |
| Dilution Factor (X) | 4 |
| Fair Value After Dilution at Prevailing Price | INR 4.30 per share |
Franklin Industries Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 15.02 | 17.01 | 20.52 |
| Expenses | 15.09 | 17.04 | 20.21 |
| Operating Margin (%) | 0.55 | 0.25 | 1.54 |
| Net Income | 0.04 | 0.01 | 0.21 |
| ROCE (%) | 1.30 | 0.26 | 70.73 |
Franklin Industries Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Working capital requirement – INR 29.26 crore
- General Corporate Purpose – INR 9.32 crore
- To meet Issue Expenses
Franklin Industries Rights Offer Documents
- Franklin Industries Rights Issue Application Form
- Franklin Industries Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Franklin Industries Rights Issue Dates
| Rights Issue Approval Date | 7 May 2024 |
| Rights Issue Record Date | 13 May 2024 |
| Credit of Rights Entitlement | 23 May 2024 |
| Rights Issue Opening Date | 24 May 2024 |
| Last Date for Market Renunciation | 5 June 2024 |
| Rights Issue Closing Date | 11 June 2024 |
| Finalization of Basis of Allotment | 14 June 2024 |
| Rights Allotment Date | 15 June 2024 |
| Credit Date | 24 June 2024 |
| Listing Date | 24 June 2024 |
Franklin Industries Rights Offer Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, First Floor, Okhla Industrial Area,
Phase1, Delhi-110020
Phone:Â 011-40450193-197
Website: www.skylinerta.com
Franklin Industries Contact Details
FRANKLIN INDUSTRIES LIMITED
301, Signature 01, Nr.Jaguar Showroom,
S.G. Highway, Makarba, Ahmedabad, Gujarat-380015
Phone:Â 7621806491
Email:Â [email protected]
Website: www.franklinindustries.in
Franklin Industries Rights Offer FAQs
What is the Franklin Industries Rights Issue Price?
The issue price is INR 3.58 per share.
What is the Franklin Industries Rights Issue entitlement ratio?
The eligible shareholders are offered 3 Equity Shares for every 1 Equity Shares held on the record date.
What is the Franklin Industries Rights Issue Record Date?
The Record date is 13 May 2024.
How to Apply for Franklin Industries Rights Offer?
The best way to apply for Franklin 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.
