Nakoda Group Rights Issue Date, Price, Allotment, Entitlement

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Last updated on June 11, 2024

Nakoda Group Rights Issue

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.

Nakoda Group

Promoters of Nakoda Group – Mr. Pravin Navalchand Choudhary and Mr. Jayesh Choudhary


Nakoda Group Rights Issue Details

Nakoda Group Rights Issue Date13 – 28 June 2024
Nakoda Group Rights Issue PriceINR 25 per share
Issue Size (in Shares)50,90,056 shares
Issue Size (in INR)INR 12.73 crore
Issue Entitlement4 equity shares for every 10 equity shares held on record date
Terms of PaymentFully payable at the time of application
Nakoda Group Rights Issue Record Date30 May 2024
Face ValueINR 10 per share
Listing OnNSE, BSE

Nakoda Group Rights Issue Calculation

Nakoda Group Rights Issue PriceINR 25 per share
Market Price on Rights Issue ApprovalINR 52.35 per share
Dilution Factor (X)1.4
Fair Value After Dilution at Prevailing PriceINR 44.54 per share

Nakoda Group Financial Performance

 FY 2022FY 2023FY 2024
Revenue59.6254.6047.12
Expenses55.1350.3646.73
Operating Margin (%)7.537.770.83
Net Income1.700.91(2.12)
ROCE (%)10.128.77
Figures in INR Crores unless specified otherwise

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 Dates

Rights Issue Approval Date24 May 2024
Rights Issue Record Date30 May 2024
Credit of Rights Entitlement10 June 2024
Rights Issue Opening Date13 June 2024
Last Date for Market Renunciation24 June 2024
Rights Issue Closing Date28 June 2024
Finalization of Basis of Allotment5 July 2024
Rights Allotment Date5 July 2024
Credit Date 10 July 2024
Listing Date15 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: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com


Nakoda Group Issue Contact Details

NAKODA GROUP OF INDUSTRIES LIMITED
239, Bagad Ganj, Nagpur – 440008, Maharashtra
Phone: +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.

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