Sahana System Rights Issue is scheduled on 11 – 25 Oct 2024
Incorporated in 2020, Sahana System provides various IT-related services, including web app development, mobile application development, AI & ML development, ChatBot development, and product prototyping. Further, the company also offers graphic design, UI/UX design, SEO & ASO, digital marketing, website and application migration, cybersecurity, and IT service outsourcing. The company offers a diverse range of services across various sectors, including fintech, healthcare, defense technology, and logistics.
The company is recognized as a start-up by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. This recognition is valid for 10 years from the company’s incorporation, until 19 February 2030. The company’s customers are in Argentina, Saudi Arabia, Canada, and the United States. Export sales contributed 5.60%, 0.60%, and 94.95% of the company’s revenue from operations for FY 2023, FY 2022, and FY 2021, respectively.
The company was allotted 500 locations in Andhra Pradesh to set up electric vehicle charging points.
Promoters of the Sahana System – Pratik Ramjibhai Kakadia
Table of Contents
Sahana System Rights Issue Details
| Sahana System Rights Issue Date | 11 – 25 October 2024 |
| Sahana System Rights Issue Price | INR 890 per share |
| Issue Size (in Shares) | 5,49,084 shares |
| Issue Size (in INR) | INR 48.87 crore |
| Issue Entitlement | 1 equity shares for every 15 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Sahana System Rights Issue Record Date | 25 September 2024 |
| Face Value | INR 10 per share |
| Listing On | NSE |
Sahana System Rights Issue Calculation
| Sahana System Rights Issue Price | INR 890 per share |
| Market Price on Rights Issue Approval | INR 1,350 per share |
| Dilution Factor (X) | 1.07 |
| Fair Value After Dilution at Prevailing Price | INR 1,321.25 per share |
Sahana System Financial Performance
| Â | FY 2023 | FY 2024 |
| Revenue | 24.0 | 69.0 |
| Expenses | 14.0 | 46.0 |
| OPM (%) | 40.0 | 34.0 |
| Net income | 6.20 | 18.21 |
Sahana System Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- To meet the working capital requirements of the company
- General Corporate Purposes
Sahana System Rights Offer Documents
- Sahana System Rights Issue Application Form
- Sahana System Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Sahana System Rights Issue Dates
| Rights Issue Approval Date | 17 September 2024 |
| Rights Issue Record Date | 25 September 2024 |
| Credit of Rights Entitlement | 25 September 2024 |
| Rights Issue Opening Date | 11 October 2024 |
| Last Date for Market Renunciation | 16 October 2024 |
| Rights Issue Closing Date | 25 October 2024 |
| Finalization of Basis of Allotment | 30 October 2024 |
| Rights Allotment Date | 31 October 2024 |
| Credit Date | 8 November 2024 |
| Listing Date | 11 November 2024 |
Sahana System Rights Offer Registrar
PURVA SHAREGISTRY (INDIA) PVT. LTD LIMITED
Purva Sharegistry (India) Pvt. Ltd. Unit no. 9 Shiv Shakti Ind.
Estt. J .R. Borichamarg Lower Parel (E) Mumbai 400 011
Phone:Â +91 22 4961 4132,91 22 3199 8810
Email:Â [email protected]
Website:Â www.purvashare.com
Sahana System Issue Contact Details
SAHANA SYSTEM LIMITED
1301, Maple Trade Center
Near Surdhara Circle
Thaltejj Ahmedabad-380052
Phone:Â +919664848978
E-mail:Â [email protected]
Website:Â www.sahanasystem.com
Sahana System Rights Offer FAQs
What is the Sahana System Rights Issue Price?
The issue price is INR 890 per share.
What is the Sahana System Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 15 Equity Shares held on the record date.
What is the Sahana System Rights Issue Record Date?
The Record date is 25 September 2024.
How to Apply in Sahana System Rights Offer?
The best way to apply in Sahana System 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.
