Sharat Industries Rights Issue is scheduled on 24 Jul – 7 Aug 2024
Established in 1990, Sharat Industries is the oldest integrated aquaculture company in India. Initially, the company successfully cultured and processed Black Tiger shrimp before eventually producing Scampi shrimp. The company consists of four divisions: (1) Shrimp Hatchery; (2) Farm; (3) Feed Mill; and (4) Processing Plant.
- Shrimp hatchery: The shrimp hatchery has a production capacity of over 400 million seedlings. It currently specializes in producing Vannamei seedlings and was the first in the country to introduce and adapt this species from the Pacific region.
- Farm: The farm spans approximately 500 acres with a production capacity of over 2,000 tonnes of shrimp per year. Situated along the coast of the Bay of Bengal, SIL owns one of the largest shrimp farms in the country.
- Feed mill: SIL produces its shrimp feed under the brand name VANNASTAR. The production unit can produce more than 20,000 tonnes. SIL is one of the largest shrimp feed producers in the state.
- Processing plant: The processing plant was built per international standards. The plant has widely recognized accreditations such as EIA, EU, and FDA approvals. The plant has a processing capacity of more than 7,500 tonnes of frozen shrimp per year. SIL is one of the largest processors and exporters of shrimp in the country.
Promoters of Sharat Industries – Mr. Prasad Reddy Sabbella, Mr. Sharat Reddy Sabbella, Mrs. Devaki Reddy Sabbella, and Mrs. Charita Reddy Sabbella
Table of Contents
Sharat Industries Rights Issue Details
| Sharat Industries Rights Issue Date | 24 Jul – 7 Aug 2024 |
| Sharat Industries Rights Issue Price | INR 31 per share |
| Issue Size (in Shares) | 1,55,43,125 shares |
| Issue Size (in INR) | INR 48.18 crore |
| Issue Entitlement | 13 equity shares for every 20 equity shares held on record date |
| Terms of Payment | Issue Price of INR 31/- per Equity Share is payable as INR 7.75 on the Application and INR 23.25/- on One or more subsequent Call(s). |
| Sharat Industries Rights Issue Record Date | 12 July 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Sharat Industries Rights Issue Calculation
| Sharat Industries Rights Issue Price | INR 31 per share |
| Market Price on Rights Issue Approval | INR 65.38 per share |
| Dilution Factor (X) | 1.65 |
| Fair Value After Dilution at Prevailing Price | INR 51.84 per share |
Sharat Industries Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 250.98 | 247.03 | 332.54 |
| Expenses | 245.53 | 239.73 | 322.68 |
| Operating Margin (%) | 5.21 | 5.87 | 6.59 |
| Net Income | 2.86 | 3.46 | 6.54 |
| ROCE (%) | 8.00 | 7.00 | 11.00 |
Sharat Industries Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To augment the existing and incremental working capital requirement of the company – INR 38.50 crore
- General corporate purposes – INR 8.68 crore
Sharat Industries Rights Offer Documents
- Sharat Industries Rights Issue Application Form
- Sharat Industries Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Sharat Industries Rights Issue Dates
| Rights Issue Approval Date | 4 July 2024 |
| Rights Issue Record Date | 12 July 2024 |
| Credit of Rights Entitlement | 19 July 2024 |
| Rights Issue Opening Date | 24 July 2024 |
| Last Date for Market Renunciation | 1 August 2024 |
| Rights Issue Closing Date | 7 August 2024 |
| Finalization of Basis of Allotment | 13 August 2024 |
| Rights Allotment Date | 14 August 2024 |
| Credit Date | 20 August 2024 |
| Listing Date | 22 August 2024 |
Sharat Industries Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, 1,
Club House Road, Chennai-600002
Telephone:Â +91 44 4002 0700
Email: [email protected]
Website:Â www.cameoindia.com
Sharat Industries Issue Contact Details
SHARAT INDUSTRIES LIMITED
Flat No. 4, Third Floor, Pallavi Apartments,
No. 57/11, Old No. 29/TF4, HDFC Bank Compound,
First Main Road, R.A. Puram, Chennai- 600 028
Phone:Â +91 86123 31727
E-mail:Â [email protected]
Website:Â www.sharatindustries.com
Sharat Industries Rights Offer FAQs
What is the Sharat Industries Rights Issue Price?
The issue price is INR 31 per share.
What is the Sharat Industries Rights Issue entitlement ratio?
The eligible shareholders are offered 13 Equity Shares for every 20 Equity Shares held on the record date.
What is the Sharat Industries Rights Issue Record Date?
The Record date is 12 July 2024.
How to Apply for the Sharat Industries Rights Offer?
The best way to apply for the Sharat Industries 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.
