Spright Agro Rights Issue is scheduled for 24 June – 23 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.
Promoters of Spright Agro – Does Not Have an Identifiable Promoter
Table of Contents
Spright Agro Rights Issue Details
| Spright Agro Rights Issue Date | 24 Jun – 23 Jul 2024 |
| Spright Agro Rights Issue Price | INR 13.40 per share |
| Issue Size (in Shares) | 3,34,84,611 shares |
| Issue Size (in INR) | INR 44.87 crore |
| Issue Entitlement | 1 equity shares for every 15 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Spright Agro Rights Issue Record Date | 7 June 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Spright Agro Rights Issue Calculation
| Rights Issue Price | INR 13.40 per share |
| Market Price on Rights Issue Approval | INR 30.94 per share |
| Dilution Factor (X) | 1.06 |
| Fair Value After Dilution at Prevailing Price | INR 29.84 per share |
Spright Agro Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 11.27 | 7.70 | 72.47 |
| Operating Margin (%) | 0.15 | 0.18 | 17.0 |
| Expenses | 11.25 | 7.69 | 59.91 |
| Net income | 0.01 | 0.01 | 11.62 |
| ROCE (%) | – | – | – |
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 Application Form
- Spright Agro Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Spright Agro Rights Issue Dates
| Rights Issue Approval Date | 3 June 2024 |
| Rights Issue Record Date | 7 June 2024 |
| Credit of Rights Entitlement | 21 June 2024 |
| Rights Issue Opening Date | 24 June 2024 |
| Last Date for Market Renunciation | 8 July 2024 |
| Rights Issue Closing Date | 23 July 2024 |
| Finalization of Basis of Allotment | 18 July 2024 |
| Spright Agro Rights Allotment Date | 18 July 2024 |
| Credit Date | 30 July 2024 |
| Listing Date | 30 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:Â [email protected]
Website:Â 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:Â +91 98254 34390
Email:Â [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.
