Gyscoal Alloys is engaged in the business of manufacturing Stainless Steel and Mild Steel Long Products from scrap. The company started its business with the trading of iron and steel scraps, billets. In 2005 the company took over a steel rolling mill business from Shah Alloys Group at Ubkhal and started manufacturing rolled products. Looking at the potential higher value addition in the case of stainless steel products, the company decided to manufacture Stainless Steel long Products.
The company’s manufacturing plant in Kukarwada has a capacity of 18,000 MT p.a. The plant has an Induction furnace, rolling mills, reheating furnace, controller, Universal Testing Machine, Diesel Generator Set. The plant holds the capacity to manufacture all grades of Stainless Steel products – from 200 series to 400 series.
The company has approved raising of INR 150 crores through a rights issue to existing shareholders and merchant bankers for the same has been appointed. The company is focusing to attain an optimal product mix of stainless steel and Mild-steel products and launch a new range of specialized products which are not easily available in the market.
Promoters of Gyscoal Alloys –Viral Mukund Shah, Solanki Zankarsinh Kishorsinh, Mona Viral Shah, Giraben Solanki, General Capital Holding Company Private Limited
Gyscoal Alloys Rights Issue Date, Size & Price
| Gyscoal Alloys Rights Issue Date | 02 January 2023 – 12 January 2023 |
| Gyscoal Alloys Rights Issue Price | INR 2.75 per share |
| Issue Size (in Shares) | 17,41,03,116 shares |
| Issue Size (in INR) | INR 49.18 crore |
| Issue Entitlement | 110 Equity Shares for Every 100 Equity Shares held |
| Terms of Payment | The full amount is payable on Application |
| Gyscoal Alloys Rights Issue Record Date | 23 December 2022 |
| Face Value | INR 1 per share |
| Listing On | NSE, BSE |
Gyscoal Alloys Financial Performance
| Â | FY 2020 | FY 2021 | FY 2022 |
| Revenue | 64.72 | 12.58 | 20.04 |
| Expenses | 89.14 | 105.17 | 33.79 |
| Net income | (13.69) | (74.49) | (5.63) |
| Margin (%) | (21.15) | (592.13) | (28.09) |
Gyscoal Alloys Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Coming soon
- Coming soon
- Coming soon
- General corporate purposes
Gyscoal Alloys Rights Offer Documents
- Gyscoal Alloys Application Form
- Gyscoal Alloys Abridged LOF
- Gyscoal Alloys Letter of Offer
Gyscoal Alloys Rights Issue Timetable
| Gyscoal Alloys Rights Issue Record Date | 23 December 2022 |
| Credit of Rights Entitlement | Coming soon |
| Gyscoal Alloys Rights Issue Opening Date | 2 January 2023 |
| Last Date for Market Renunciation | 09 January 2023 |
| Gyscoal Alloys Rights Issue Closing Date | 12 January 2023 |
| Finalization of Basis of Allotment | Coming soon |
| Gyscoal Alloys Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Gyscoal Alloys Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | – | – | (0.89) |
| PE ratio | – | – | – |
| RONW (%) | (9) | (121) | (23) |
| ROCE (%) | – | – | (22.9) |
| EBITDA | – | – | |
| Debt/Equity | – | – | |
| NAV per share | – | – |
Gyscoal Alloys Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
Unit No. 9, Ground Floor,
Shiv Shakti Industrial Estate, J. R.
Boricha Marg, Lower Parel (East),
Mumbai – 400011,Maharashtra
Phone:Â +91-22-2301 0771/4961 4132
Email: [email protected]
Website:Â www.purvashare.com
Gyscoal Alloys Contact Details
GYSCOAL ALLOYS LIMITED
Plot No. 2/3 GIDC Ubkhal, Kukarwada,
Tal. Vijapur, Dist. Mehsana Kukarwada
Mahesana, Gujarat- 382830
Phone:Â +079 66614508
Email:Â [email protected]
Website:Â www.gyscoal.com
Gyscoal Alloys Rights Offer FAQs
What is price of Gyscoal Alloys Rights Issue?
The issue price is INR 2.75 per share.
What is entitlement ratio of Gyscoal Alloys Rights Issue?
The eligible shareholders are offered 110 Equity Shares for Every 100 Equity Shares held by the eligible shareholder as on the Record date.
What is the Record Date of Gyscoal Alloys Rights Issue?
The Record date is 23 December 2022.
How to Apply in Gyscoal Alloys Rights Offer?
The best way to apply in Gyscoal Alloys 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.
