Sanginita Chemicals Rights Issue is scheduled on 15 – 27 May 2024
Founded in 2005, Sanginita Chemicals produces and exports a variety of chemical products such as cuprous chloride, copper sulfate, copper phthalocyanine blue (CPC), and cupric chloride. The company caters to the surface coatings industry, offering an extensive range of products used in decorative and industrial paints, protective coatings, printing inks, and adhesives.
Currently, Sanginita Chemicals manufactures three main products: Cuprous Chloride, Copper Sulphate, and Cupric Chloride. These products have annual production capacities of 6,000,000 kg, 5,400,000 kg, and 350,000 kg respectively. They are used in various industries such as dyes and pigments, paints, pharmaceuticals, electroplating, metal extraction, and in the production of inks, carbon paper, and PVC pipe coatings.
As of 1 May 2024, the company has a total workforce of 56 employees, including both workers and contractual laborers, across various departments.
Promoters of Sanginita Chemicals – Mr. Dineshsinh Bhimsinh Chavada, Mr. Vijaysinh Dineshsinh Chavda, and Sanginita Industries LLP
Table of Contents
Sanginita Chemicals Rights Issue Details
| Sanginita Chemicals Rights Issue Date | 15 – 27 May 2024 |
| Sanginita Chemicals Rights Issue Price | INR 18 per share |
| Issue Size (in Shares) | 86,33,850 shares |
| Issue Size (in INR) | INR 15.54 crore |
| Issue Entitlement | 1 equity shares for every 2 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Sanginita Chemicals Rights Issue Record Date | 7 May 2024 |
| Face Value | INR 10 per share |
| Listing On | NSE |
Sanginita Chemicals Rights Issue Calculation
| Sanginita Chemicals Rights Issue Price | INR 18 per share |
| Market Price on Rights Issue Approval | INR 24.65 per share |
| Dilution Factor (X) | 1.5 |
| Fair Value After Dilution at Prevailing Price | INR 22.43 per share |
Sanginita Chemicals Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 164 | 197 | 149 |
| Expenses | 160 | 195 | 145 |
| Operating Margin (%) | 2.0 | 1.0 | 2.0 |
| Net Income | 0.76 | 0.35 | 0.43 |
| ROCE (%) | 5.0 | 4.0 | 4.0 |
Sanginita Chemicals Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Working Capital Requirement – INR 6.59 crore
- Capital Expenditure – INR 5 crore
- General corporate purposes – INR 3.50 crore
- Issue Expenses
Sanginita Chemicals Rights Offer Documents
- Sanginita Chemicals Rights Issue Application Form
- Sanginita Chemicals Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Sanginita Chemicals Rights Issue Dates
| Rights Issue Approval Date | 1 May 2024 |
| Rights Issue Record Date | 7 May 2024 |
| Credit of Rights Entitlement | 9 May 2024 |
| Rights Issue Opening Date | 15 May 2024 |
| Last Date for Market Renunciation | 21 May 2024 |
| Rights Issue Closing Date | 27 May 2024 |
| Finalization of Basis of Allotment | 29 May 2024 |
| Rights Allotment Date | 30 May 2024 |
| Credit Date | 5 June 2024 |
| Listing Date | 6 June 2024 |
Sanginita Chemicals Rights Offer Lead Manager
FINTELLECTUAL CORPORATE ADVISORS PRIVATE LIMITED
204, Kanishka Shopping Complex,
Mayur Vihar, Phase 1, Extension, Delhi – 110091
Phone: +91 11 48016991
Email:Â [email protected]
Website:Â www.fintellectualadvisors.com
Sanginita Chemicals Rights Offer Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone:Â +91-022-49614132/ 35220056
Email:Â [email protected]
Website: www.purvashare.com
Sanginita Chemicals Contact Details
SANGINITA CHEMICALS LIMITED
301, 3rd Floor, Shalin Complex, Sector -11,
Gandhinagar – 382 011, Gujarat, India
Phone:Â +91 79 23240270
Email:Â [email protected]
Website: www.sanginitachemicals.co.in
Sanginita Chemicals Rights Offer FAQs
What is the Sanginita Chemicals Rights Issue Price?
The issue price is INR 18 per share.
What is the Sanginita Chemicals Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 2 Equity Shares held on the record date.
What is the Sanginita Chemicals Rights Issue Record Date?
The Record date is 7 May 2024.
How to Apply in Sanginita Chemicals Rights Offer?
The best way to apply in Sanginita Chemicals 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.
