Narmada Agrobase Rights Issue is scheduled on 30 Sep – 9 Oct 2024
Narmada Agrobase is an ISO 9001:2015 certified company specializing in the manufacturing and processing of cotton seed meal cake, cattle feed, and soybean meal. The company’s products are primarily used for cattle feed, providing high levels of protein and essential nutrients. Additionally, the by-products from its production are utilized in the textile, consumer goods, and paper industries.
Narmada Agrobase is a manufacturer and exporter of cotton seed meal, guar meal, delinted cotton seed, organic fertilizers, and cattle feed, marketed under the brand names “Churma” and “Gaay Chhaap Narmada Pashu Aahar.” The company’s production facility is located in Ahmedabad, with an installed capacity of approximately 125 metric tons per day.
Currently, the company markets its products through a network of commission agents, brokers, and distributors across Gujarat and Rajasthan. The majority of its sales come from Rajasthan. The company is planning to launch Multigrain Meal High Protein cattle feed, which is rich in protein and fiber, making it highly suitable for poultry feed as well.
Promoters of Narmada Agrobase – Mr. Neerajkumar Sureshchandra Agrawal, and Mr. Suresh Chandra Gupta
Table of Contents
Narmada Agrobase Rights Issue Details
| Narmada Agrobase Rights Issue Date | 30 Sep – 9 Oct 2024 |
| Narmada Agrobase Rights Issue Price | INR 15 per share |
| Issue Size (in Shares) | 2,43,87,685 shares |
| Issue Size (in INR) | INR 36.58 crore |
| Issue Entitlement | 9 equity shares for every 5 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Narmada Agrobase Rights Issue Record Date | 16 September 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
Narmada Agrobase Rights Issue Calculation
| Narmada Agrobase Rights Issue Price | INR 15 per share |
| Market Price on Rights Issue Approval | INR 22.47 per share |
| Dilution Factor (X) | 2.8 |
| Fair Value After Dilution at Prevailing Price | INR 17.67 per share |
Narmada Agrobase Financial Performance
| FY 2023 | FY 2024 | |
| Revenue | 50.03 | 50.32 |
| Expenses | 48.87 | 48.76 |
| OPM (%) | 4.13 | 5.14 |
| Net income | 0.65 | 1.02 |
| ROCE (%) | 6.88 | 8.69 |
Narmada Agrobase Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- To finance expenditure towards the Acquisition of Land, Construction of Oil Mill Plant & other civil works, and Purchase of Plant & machinery – INR 7.70 crore
- Incremental Working Capital Requirements – INR 17.87 crore
- General Corporate Purposes – INR 9.01 crore
Narmada Agrobase Rights Offer Documents
- Narmada Agrobase Rights Issue Application Form
- Narmada Agrobase Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Narmada Agrobase Rights Issue Dates
| Rights Issue Approval Date | 10 September 2024 |
| Rights Issue Record Date | 16 September 2024 |
| Credit of Rights Entitlement | 27 September 2024 |
| Rights Issue Opening Date | 30 September 2024 |
| Last Date for Market Renunciation | 3 October 2024 |
| Rights Issue Closing Date | 9 October 2024 |
| Finalization of Basis of Allotment | 16 October 2024 |
| Rights Allotment Date | 16 October 2024 |
| Credit Date | 22 October 2024 |
| Listing Date | 24 October 2024 |
Narmada Agrobase Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: [email protected]
Website: www.cameoindia.com
Narmada Agrobase Issue Contact Details
NARMADA AGROBASE LIMITED
310, Sudarshan Complex, Mithakhali Underbridge,
Navrangpura, Ahmedabad – 380009, Gujarat, India
Phone: +91-79-4037 0886
E-mail: [email protected]
Website: www.narmadaagrobase.com
Narmada Agrobase Rights Offer FAQs
What is the Narmada Agrobase Rights Issue Price?
The issue price is INR 15 per share.
What is the Narmada Agrobase Rights Issue entitlement ratio?
The eligible shareholders are offered 9 Equity Shares for every 5 Equity Shares held on the record date.
What is the Narmada Agrobase Rights Issue Record Date?
The Record date is 16 September 2024.
How to Apply in Narmada Agrobase Rights Offer?
The best way to apply in the Narmada Agrobase 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.
