Vinny Overseas Rights Issue is scheduled on 27 Aug – 10 Sep 2024
Vinny Overseas is involved in processing fabrics for shirting, suiting, and dress materials through weaving, dyeing, printing, and finishing. The company sources grey fabric from the domestic market and dyes it according to client specifications based on its quality, size, and other factors. Additionally, the company performs jobs for wholesale cloth merchants and trades in grey cloth based on customer orders.
The company offers a range of products, including shirting fabrics, suiting fabrics, polyester fabrics, dress materials, and cotton fabrics. Its overseas supplies are primarily distributed in Dubai, Bahrain, Indonesia, Sri Lanka, the U.S.A., China, Brazil, and Oman etc. As of 31 December 2023, Vinny Overseas had a total clientele of over 300 customers.
Promoters of Vinny Overseas – Hiralal Parekh
Table of Contents
Vinny Overseas Rights Issue Details
| Vinny Overseas Rights Issue Date | 27 Aug – 10 Sep 2024 |
| Vinny Overseas Rights Issue Price | INR 2 per share |
| Issue Size (in Shares) | 23,26,23,311 shares |
| Issue Size (in INR) | INR 46.52 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 |
| Vinny Overseas Rights Issue Record Date | 14 August 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE, NSE |
Vinny Overseas Rights Issue Calculation
| Vinny Overseas Rights Issue Price | INR 2 per share |
| Market Price on Rights Issue Approval | INR 4.31 per share |
| Dilution Factor (X) | 2 |
| Fair Value After Dilution at Prevailing Price | INR 3.16 per share |
Vinny Overseas Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 109.0 | 105.0 | 113.0 |
| Expenses | 111.0 | 97.0 | 103.0 |
| Operating Margin (%) | (2.0) | 9.0 | 8.0 |
| Net Income | (4.51) | 2.40 | 3.54 |
| ROCE (%) | (9.0) | 10.0 | 13.0 |
Figures in INR Crores unless specified otherwise
Vinny Overseas Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Repayment of borrowings – INR 17 crore
- Purchase of machinery and construction in the existing manufacturing unit – INR 13.87 crore
- To meet incremental working capital requirements – INR 10 crore
- General corporate purposes
Vinny Overseas Rights Offer Documents
- Vinny Overseas Rights Issue Application Form
- Vinny Overseas Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Vinny Overseas Rights Issue Dates
| Rights Issue Approval Date | 8 August 2024 |
| Rights Issue Record Date | 14 August 2024 |
| Credit of Rights Entitlement | 26 August 2024 |
| Rights Issue Opening Date | 27 August 2024 |
| Last Date for Market Renunciation | 4 September 2024 |
| Rights Issue Closing Date | 10 September 2024 |
| Finalization of Basis of Allotment | 12 September 2024 |
| Rights Allotment Date | 13 September 2024 |
| Credit Date | 19 September 2024 |
| Listing Date | 20 September 2024 |
Vinny Overseas Rights Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road, Andheri
(East), Mumbai – 400 093, Maharashtra
Phone: 022 – 6263 8200
E-mail:Â [email protected]
Website:Â www.bigshareonline.com
Vinny Overseas Issue Contact Details
VINNY OVERSEAS LIMITED
B/H International Hotel Narol-Isanpur
Road Narol, Ahmedabad, Gujarat 382405 India
Phone: +91 9328804500
E-mail:Â [email protected]
Website:Â www.vinnyoverseas.in
Vinny Overseas Rights Offer FAQs
What is the Vinny Overseas Rights Issue Price?
The issue price is INR 2 per share.
What is the Vinny Overseas 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 Vinny Overseas Rights Issue Record Date?
The Record date is 14 August 2024.
How to Apply for the Vinny Overseas Rights Offer?
The best way to apply for the Vinny Overseas 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.
