Spright Agro Rights Issue Date, Price, Allotment, Entitlement

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Last updated on June 18, 2024

Spright Agro Rights Issue

Spright Agro Rights Issue is scheduled for 24 June – 12 July 2024

The business of Spright Agro consists of trading agricultural commodities (Wheat, Rice, Maize), Vegetables (Capsicum, Tomato, Green Chilly, Onion, Potato, etc), Fruits including Apple, Red Dragon, Sweet Lime, Pomegranate, etc and other agricultural products. The company is also in contract manufacturing of different agricultural products, mainly Potatoes, Cucumber, and Onion.

Spright Agro procures agricultural produce from manufacturers upfront or as per agreed terms and sells it to a network of dealers. Thanks to its market presence, the company has developed close relationships with farmers, wholesalers, and retailers. In the contract manufacturing segment, the company rents farmland to grow cucumbers, onions, and castor beans to meet the market demand.

The company had 9 employees in April 2024. 5 customers accounted for 38.88% of its sales and 5 suppliers for 34.96% of its purchase for the year ended 31 March 2024.

Spright Agro

Promoters of Spright Agro – Does Not Have an Identifiable Promoter


Spright Agro Rights Issue Details

Spright Agro Rights Issue Date24 Jun – 12 Jul 2024
Spright Agro Rights Issue PriceINR 13.40 per share
Issue Size (in Shares)3,34,84,611 shares
Issue Size (in INR)INR 44.87 crore
Issue Entitlement1 equity shares for every 15 equity shares held on the record date
Terms of PaymentFully payable at the time of application
Spright Agro Rights Issue Record Date7 June 2024
Face ValueINR 1 per share
Listing OnBSE

Spright Agro Rights Issue Calculation

Rights Issue PriceINR 13.40 per share
Market Price on Rights Issue ApprovalINR 30.94 per share
Dilution Factor (X)1.06
Fair Value After Dilution at Prevailing PriceINR 29.84 per share

Spright Agro Financial Performance

 FY 2022FY 2023FY 2024
Revenue11.277.7072.47
Operating Margin (%)0.150.1817.0
Expenses11.257.6959.91
Net income0.010.0111.62
ROCE (%)
Figures in INR Crores unless specified otherwise

Spright Agro Rights Offer Objectives

The company intends to utilize the Net Proceeds from the Issue to augment the capital base of the company.

  • Working capital requirement – INR 34.15 crore
  • General Corporate Purpose – INR 10.22 crore
  • To meet Issue Expenses

Spright Agro Rights Offer Documents


Spright Agro Rights Issue Dates

Rights Issue Approval Date3 June 2024
Rights Issue Record Date7 June 2024
Credit of Rights Entitlement21 June 2024
Rights Issue Opening Date24 June 2024
Last Date for Market Renunciation8 July 2024
Rights Issue Closing Date12 July 2024
Finalization of Basis of Allotment18 July 2024
Spright Agro Rights Allotment Date18 July 2024
Credit Date 30 July 2024
Listing Date30 July 2024

Spright Agro Rights Offer Registrar

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, First Floor, Okhla Industrial Area,
Phase1, Delhi-110020
Telephone: 011-40450193-197
Email: [email protected]
Website: www.skylinerta.com


Spright Agro Contact Details

SPRIGHT AGRO LIMITED
Office No 1216, Shilp Epitom Rajpath, Rangoli
Road Off Sindhu Bhavan Road, Bodakdev,
Ahmedabad-380054, Gujarat, India
Phone: +91 98254 34390
Email: 
[email protected]
Website:
www.sprightagro.com


Spright Agro Rights Offer FAQs

What is the Spright Agro Rights Issue Price?

The issue price is INR 13.40 per share.

What is the Spright Agro 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 Spright Agro Rights Issue Record Date?

The Record date is 7 June 2024.

How to Apply in Spright Agro Rights Offer?

The best way to apply in Spright Agro 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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