Nakoda Group Rights Issue is scheduled for 13 – 28 June 2024
Nakoda Group of Industries manufactures Tutti Fruity, also known as ‘papaya jam’, and preserved and dried fruit cubes, which fall under the bakery category. The company also processes dry fruits and nuts imported from California and other Middle Eastern countries by traders in Maharashtra. The company also deals in sesame seeds, cloves, cut shell muraba, karonda, rice, various seeds, and toor dal.
Nakoda Group of Industries turnover comprises 45.51% from dry fruit processing, 26.04% from Tutti Fruity production, and 28.45% from trade total revenue from Tutti Fruity production, 50.19% comes from exports to Malaysia, Dubai, Saudi Arabia, Chile, Egypt, Qatar and Singapore. In comparison, 49.81% comes from domestic sales.
Promoters of Nakoda Group – Mr. Pravin Navalchand Choudhary and Mr. Jayesh Choudhary
Table of Contents
Nakoda Group Rights Issue Details
| Nakoda Group Rights Issue Date | 13 – 28 June 2024 |
| Nakoda Group Rights Issue Price | INR 25 per share |
| Issue Size (in Shares) | 50,90,056 shares |
| Issue Size (in INR) | INR 12.73 crore |
| Issue Entitlement | 4 equity shares for every 10 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Nakoda Group Rights Issue Record Date | 30 May 2024 |
| Face Value | INR 10 per share |
| Listing On | NSE, BSE |
Nakoda Group Rights Issue Calculation
| Nakoda Group Rights Issue Price | INR 25 per share |
| Market Price on Rights Issue Approval | INR 52.35 per share |
| Dilution Factor (X) | 1.4 |
| Fair Value After Dilution at Prevailing Price | INR 44.54 per share |
Nakoda Group Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 59.62 | 54.60 | 47.12 |
| Expenses | 55.13 | 50.36 | 46.73 |
| Operating Margin (%) | 7.53 | 7.77 | 0.83 |
| Net Income | 1.70 | 0.91 | (2.12) |
| ROCE (%) | 10.12 | 8.77 | – |
Nakoda Group Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To part finance working capital requirement of the company – INR 6 crore
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed from banks and financial institutions – INR 3.25 crore
- General corporate purposes – INR 2.53 crore
- To meet the expenses of the Issue – INR 0.95 crore
Nakoda Group Rights Offer Documents
- Nakoda Group Rights Issue Application Form
- Nakoda Group Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Nakoda Group Rights Issue Dates
| Rights Issue Approval Date | 24 May 2024 |
| Rights Issue Record Date | 30 May 2024 |
| Credit of Rights Entitlement | 10 June 2024 |
| Rights Issue Opening Date | 13 June 2024 |
| Last Date for Market Renunciation | 24 June 2024 |
| Rights Issue Closing Date | 28 June 2024 |
| Finalization of Basis of Allotment | 5 July 2024 |
| Rights Allotment Date | 5 July 2024 |
| Credit Date | 10 July 2024 |
| Listing Date | 15 July 2024 |
Nakoda Group 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
Nakoda Group Issue Contact Details
NAKODA GROUP OF INDUSTRIES LIMITED
239, Bagad Ganj, Nagpur – 440008, Maharashtra
Phone:Â +91-07122778824
Email: [email protected]
Website: www.nakodas.com
Nakoda Group Rights Offer FAQs
What is the Nakoda Group Rights Issue Price?
The issue price is INR 25 per share.
What is the Nakoda Group Rights Issue entitlement ratio?
The eligible shareholders are offered 4 Equity Shares for 10 every Equity Shares held on the record date.
What is the Nakoda Group Rights Issue Record Date?
The Record date is 30 May 2024.
How to Apply in Nakoda Group Rights Offer?
The best way to apply in the Nakoda Group 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 out an application form and deposit it to your broker.
