Savani Financials Rights Issue Date, Price, Allotment, Entitlement

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Savani Financials Rights Issue

Savani Financials Rights Issue is scheduled for 2 – 10 May 2024

Established in 1987, Savani Financials specializes in offering financial services. The company is registered as a Non-Systematically Important Non-Deposit Accepting Non-Banking Financial Investment and Credit Company. It provides a variety of investment and financial services to its clients.

With a strategic focus on utilizing cutting-edge technology and innovative financial products, Savani Financials aims to meet the unique needs of MSMEs by offering them accessible and customized financial solutions. The company did not make any investments, provide any guarantees or securities, or grant any loans or advances, whether secured or unsecured, to any person or entity.

Savani Financials

Promoters of Savani Financials – Deepa Tracy, and Manish Chaudhari


Savani Financials Rights Issue Details

Savani Financials Rights Issue Date2 – 10 May 2024
Savani Financials Rights Issue PriceINR 17.50 per share
Issue Size (in Shares)28,285,714 shares
Issue Size (in INR)INR 49.50 crore
Issue Entitlement7 equity shares for every 1 equity shares held on the record date
Terms of PaymentFully payable at the time of application
Savani Financials Rights Issue Record Date4 April 2024
Face ValueINR 10 per share
Listing OnBSE

Savani Financials Rights Issue Calculation

Rights Issue PriceINR 17.50 per share
Market Price on Rights Issue ApprovalINR 17.91 per share
Dilution Factor (X)8.0
Fair Value After Dilution at Prevailing PriceINR 17.55 per share

Savani Financial Performance

 FY 2021FY 2022FY 2023
Revenue12.7611.3411.10
Expenses8.219.5915.72
Operating Margin (%)38.4618.18(63.64)
Net income4.551.51(7.36)
ROCE (%)2.340.92(3.27)
Figures in INR Lakhs unless specified otherwise

Savani Financials Rights Offer Objectives

The net proceeds from the offer are proposed to be used for

  • To augment the capital base
  • Repay the Unsecured loan along with interest of INR 1.98 lakhs to the director post the completion of the Rights issue, a sum estimated at INR 91.98 Lakhs.
  • General Corporate Purpose

Savani Financials Rights Offer Documents


Savani Financials Rights Issue Dates

Rights Issue Approval Date30 March 2024
Rights Issue Record Date4 April 2024
Credit of Rights EntitlementComing soon
Rights Issue Opening Date2 May 2024
Last Date for Market Renunciation7 May 2024
Rights Issue Closing Date10 May 2024
Finalization of Basis of Allotment17 May 2024
Savani Financials Rights Allotment Date18 May 2024
Credit Date 22 May 2024
Listing Date24 May 2024

Savani Financials 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


Savani Financials Contact Details

SAVANI FINANCIALS LIMITED
602, Samarth Vaibhav CHS Limited, Off-Link Road,
Lokhandwala Complex, Andheri, Mumbai 400 053
Phone: +91 98209 04374
Email: 
[email protected]
Website:
www.savanifinancials.co.in


Savani Financials Rights Offer FAQs

What is the Savani Financials Rights Issue Price?

The issue price is INR 17.50 per share.

What is the Savani Financials Rights Issue entitlement ratio?

The eligible shareholders are offered 7 Equity Shares for every 1 Equity Shares held on the record date.

What is the Savani Financials Rights Issue Record Date?

The Record date is 4 April 2024.

How to Apply for Savani Financials Rights Offer?

The best way to apply for Savani Financials 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.

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