Tilak Ventures Rights Issue is scheduled on 3 – 11 Oct 2024
Established in 1980, Tilak Ventures is a finance company that provides loans to individuals, firms, and corporate entities, while also accepting deposits or loans to support its financing operations. The company operates in two primary business segments: Finance and Commodities Activities.
Tilak Ventures is currently focused on financing, investing, and trading in shares, commodities, and bullion. The company is also planning to enter the renewable energy sector by setting up a 25MW solar power project, highlighting its growing interest in the expanding power project industry.
As of 31 March 2023, Tilak Ventures held INR 5.7 crore in cash and equivalents, along with INR 4.9 crore in short-term loans and advances.
Promoters of Tilak Ventures – Handful Investrade Private Limited, Hunnar Jewels Limited (Forme Agrawal Bullion Limited), and Banas Finance Limited
Table of Contents
Tilak Ventures Rights Issue Details
| Tilak Ventures Rights Issue Date | 3 – 11 October 2024 |
| Tilak Ventures Rights Issue Price | INR 2.20 per share |
| Issue Size (in Shares) | 22,28,48,403 shares |
| Issue Size (in INR) | INR 49.03 crore |
| Issue Entitlement | 1 equity shares for every 1 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Tilak Ventures Rights Issue Record Date | 13 September 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Tilak Ventures Rights Issue Calculation
| Tilak Ventures Rights Issue Price | INR 2.20 per share |
| Market Price on Rights Issue Approval | INR 4.72 per share |
| Dilution Factor (X) | 2 |
| Fair Value After Dilution at Prevailing Price | INR 3.46 per share |
Tilak Ventures Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 3.89 | 6.98 | 12.86 |
| Expenses | 4.68 | 6.58 | 9.76 |
| OPM (%) | (20.31) | 5.73 | 24.11 |
| Net income | (0.39) | 2.28 | 5.14 |
| ROCE (%) | – | 4.44 | 9.02 |
Tilak Ventures Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- Towards working capital requirements furtherance including Loans & advances and Investments – INR 48.63 crore
- Issue Related Expenses
- General Corporate Purposes
Tilak Ventures Rights Offer Documents
- Tilak Ventures Rights Issue Application Form
- Tilak Ventures Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Tilak Ventures Rights Issue Dates
| Rights Issue Approval Date | 9 September 2024 |
| Rights Issue Record Date | 13 September 2024 |
| Credit of Rights Entitlement | 19 September 2024 |
| Rights Issue Opening Date | 3 October 2024 |
| Last Date for Market Renunciation | 4 October 2024 |
| Rights Issue Closing Date | 11 October 2024 |
| Finalization of Basis of Allotment | 15 October 2024 |
| Rights Allotment Date | 16 October 2024 |
| Credit Date | 17 October 2024 |
| Listing Date | 22 October 2024 |
Tilak Ventures 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: 022 – 4918 6270
Email:Â [email protected]
Website:Â www.linkintime.co.in
Tilak Ventures Issue Contact Details
TILAK VENTURES LIMITED
E-109, Crystal Plaza, New Link Road,
Opposite Infinity Mall, Andheri (West),
Mumbai – 400 053, Maharashtra
Phone:Â 022-66921199,91-9152096141
E-mail: [email protected]
Website:Â www.tilakfinance.wordpress.com
Tilak Ventures Rights Offer FAQs
What is the Tilak Ventures Rights Issue Price?
The issue price is INR 2.20 per share.
What is the Tilak Ventures Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 1 Equity Shares held on the record date.
What is the Tilak Ventures Rights Issue Record Date?
The Record date is 13 September 2024.
How to Apply in Tilak Ventures Rights Offer?
The best way to apply in Tilak Ventures 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.
