Sobha Rights Issue is scheduled on 28 Jun – 4 Jul 2024
Sobha is a leading real estate company in India that offers residential homes and manufactures construction-related products. The company’s focus on design, construction quality, building materials, and technology has allowed us to diversify and expand its offerings. The company has expanded to other cities in India including Gurugram, Chennai, Pune, and Kochi.
Recently, the company launched projects in Hyderabad and Trivandrum. Apart from developing real estate projects under the ‘Sobha‘ brand. The company also provides engineering, procurement, and construction services for institutional customers.
As of 31 March 2024, it has completed construction of 136.25 million square feet across 27 cities in India and currently has 38.36 million square feet of developable area for projects. In the last fiscal year, the company completed construction of over 7 million square feet across the real estate and contractual projects and the company has 69 ongoing projects and 21 forthcoming projects as of 31 March 2024, comprising residential and commercial developments.
Promoters of Sobha – PNC Menon, Sobha Menon, and Ravi PNC Menon
Table of Contents
Sobha Rights Issue Details
| Sobha Rights Issue Date | 28 Jun – 4 Jul 2024 |
| Sobha Rights Issue Price | INR 1,651 per share |
| Issue Size (in Shares) | 1,21,07,981 share |
| Issue Size (in INR) | INR 2,000 crore |
| Issue Entitlement | 6 equity shares for every 47 equity shares held on record date |
| Terms of Payment | INR 825 on application. INR 825 in not more than two subsequent Calls, with terms and conditions such as the number of Calls and the timing and quantum of each Call, as may be decided by our Board/ Rights Issue Committee from time to time, to be completed on or before 31 December 2025 |
| Rights Issue Record Date | 19 June 2024 |
| Face Value | INR 10 per share |
| Listing On | NSE, BSE |
Sobha Rights Issue Calculation
| Sobha Rights Issue Price | INR 1,651 per share |
| Market Price on Rights Issue Approval | INR 2,062.50 per share |
| Dilution Factor (X) | 1.13 |
| Fair Value After Dilution at Prevailing Price | INR 2,015.92 per share |
Sobha Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 2,561 | 3,310 | 3,097 |
| Expenses | 2,028 | 2,941 | 2,820 |
| Operating Margin (%) | 21.0 | 11.0 | 9.0 |
| Net Income | 173.00 | 104.00 | 49.00 |
| ROCE (%) | 10.00 | 8.00 | – |
Sobha Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Repayment or prepayment, in full or in part, of certain borrowings availed by the company – INR 905 crore
- Funding certain project-related expenses for ongoing projects and forthcoming projects – INR 212.36 crore
- Purchase of equipment and machinery – INR 210.03 crore
- Funding acquisition of unidentified land parcels and general corporate purposes – INR 658.59 crore
Sobha Rights Offer Documents
- Sobha Rights Issue Application Form
- Sobha Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Sobha Rights Issue Dates
| Rights Issue Approval Date | 12 June 2024 |
| Rights Issue Record Date | 19 June 2024 |
| Credit of Rights Entitlement | 27 July 2024 |
| Rights Issue Opening Date | 28 June 2024 |
| Last Date for Market Renunciation | 1 July 2024 |
| Rights Issue Closing Date | 4 July 2024 |
| Finalization of Basis of Allotment | 11 July 2024 |
| Rights Allotment Date | 12 July 2024 |
| Credit Date | 15 July 2024 |
| Listing Date | 16 July 2024 |
Sobha Rights Offer Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy Appasaheb Marathe Marg Prabhadevi,
Mumbai 400 025 Maharashtra, India
Telephone:Â +91 22 6630 3030
Email:Â [email protected]
Website:Â www.jmfl.com
Sobha Rights Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Sobha Contact Details
SOBHA LIMITED
SOBHA, Sarjapur-Marathahalli, Outer Ring Road (ORR),
Devarabisanahalli, Bellandur Post, Bangalore 560 103
Phone:Â +91 80 4932 0000
Email:Â [email protected]
Website: www.sobha.com
Sobha Rights Offer FAQs
What is the Sobha Rights Issue Price?
The issue price is INR 1,651 per share.
What is the Sobha Rights Issue entitlement ratio?
The eligible shareholders are offered 6 Equity Shares for every 47 Equity Shares held on the record date.
What is the Sobha Rights Issue Record Date?
The Record date is 19 June 2024.
How to Apply for Sobha Rights Offer?
The best way to apply for the Sobha 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.
