Mitcon Consultancy Rights Issue is scheduled for 28 Jun – 26 Jul 2024
Mitcon Consultancy & Engineering Services specializes in corporate solutions in power, energy efficiency, renewable energy, climate change, and environmental management sectors, Mitcon Consultancy also offers services to the banking, infrastructure, and biotechnology sectors. It also conducts IT-based training courses and skill-based training programs.
The company completed over 18,000 consulting assignments across more than 50 countries in Asia, the Middle East, and African Markets, Mitcon Consultancy has trained over 25 lakh individuals under various Government & Non-Government Skill Development & Entrepreneurship Programs with a placement rate of 75%. It has completed over 25,000 studies in these markets.
The company is headquartered in Pune with regional offices in Mumbai, Delhi, Ahmedabad, Bengaluru, Nanded, Raipur, and Nagpur. As of 15 April 2024, the company has 216 employees.
Promoters of Mitcon Consultancy – Does Not Have an Identifiable Promoter
Table of Contents
Mitcon Consultancy Rights Issue Details
| Mitcon Consultancy Rights Issue Date | 28 Jun – 26 Jul 2024 |
| Mitcon Consultancy Rights Issue Price | INR 76 per share |
| Issue Size (in Shares) | 42,41,321 shares |
| Issue Size (in INR) | INR 32.23 crore |
| Issue Entitlement | 6 equity shares for every 19 equity shares held on the record date |
| Terms of Payment | INR 19 on application. INR 57 in one or more subsequent Call(s) as determined by the Board at its sole discretion, from time to time. |
| Mitcon Consultancy Rights Issue Record Date | 20 June 2024 |
| Face Value | INR 10 per share |
| Listing On | NSE |
Mitcon Consultancy Rights Issue Calculation
| Rights Issue Price | INR 76 per share |
| Market Price on Rights Issue Approval | INR 128.89 per share |
| Dilution Factor (X) | 1.32 |
| Fair Value After Dilution at Prevailing Price | INR 116.20 per share |
Mitcon Consultancy Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 106.50 | 83.65 | 129.00 |
| Expenses | 103.97 | 84.42 | 101.00 |
| Operating Margin (%) | 15.00 | 19.00 | 22.00 |
| Net income | 1.50 | 4.39 | 6.00 |
| ROCE (%) | 6.95 | 5.98 | – |
Mitcon Consultancy Rights Offer Objectives
The company intends to utilize the Net Proceeds from the Issue to augment the capital base of the company.
- Investment in its Wholly the subsidiary company viz. MITCON Sun Power Limited for Solar Park – INR 5.91 crore
- To finance the upgradation of the environment laboratory – INR 0.53 crore
- Investment in its Joint Venture Company viz. MITCON Nature Based Solutions Limited – INR 2.43 crore
- To invest in Front End Engineering Design Development – INR 1.50 crore
- To finance the acquisition of instruments for training – INR 0.22 crore
- To carry out the capital expenditure for the refurbishment of office space – INR 1.31 crore
- Part-funding the incremental working capital requirements – INR 12.50 crore
- General corporate purposes
Mitcon Consultancy Rights Offer Documents
- Mitcon Consultancy Rights Issue Application Form
- Mitcon Consultancy Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Mitcon Consultancy Rights Issue Dates
| Rights Issue Approval Date | 10 June 2024 |
| Rights Issue Record Date | 20 June 2024 |
| Credit of Rights Entitlement | 27 June 2024 |
| Rights Issue Opening Date | 28 June 2024 |
| Last Date for Market Renunciation | 22 July 2024 |
| Rights Issue Closing Date | 26 July 2024 |
| Finalization of Basis of Allotment | 2 August 2024 |
| Mitcon Consultancy Rights Allotment Date | 3 August 2024 |
| Credit Date | 8 August 2024 |
| Listing Date | 12 August 2024 |
Mitcon Consultancy Rights Offer Lead Manager
SRUJAN ALPHA CAPITAL ADVISORS LLP
824 & 825, Corporate Avenue,
Sonawala Rd, Opposite Atlanta Centre,
Sonawala Industry Estate, Goregaon, Mumbai – 400 063
Phone:Â +91 022-46030709
E-mail:Â [email protected]
Website:Â www.srujanalpha.com
Mitcon Consultancy Rights Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Mitcon Consultancy Contact Details
MITCON CONSULTANCY & ENGINEERING SERVICES LIMITED
Kubera Chambers, Shivaji Nagar,
Pune 411005, Maharashtra, India
Phone: 020 – 25534322/25533309
Email:Â [email protected]
Website: www.mitconindia.com
Mitcon Consultancy Rights Offer FAQs
What is the Mitcon Consultancy Rights Issue Price?
The issue price is INR 76 per share.
What is the Mitcon Consultancy Rights Issue entitlement ratio?
The eligible shareholders are offered 6 Equity Shares for every 19 Equity Shares held on the record date.
What is the Mitcon Consultancy Rights Issue Record Date?
The Record date is 20 June 2024.
How to Apply for Mitcon Consultancy Rights Offer?
The best way to apply for Mitcon Consultancy 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.
