• The company that was started as a textile company is now diversifying in to agriculture and non-agriculture ventures.
• It has posted minuscule and erratic financial performances for the reported periods.
• Based on its recent financial data, the RI is exorbitantly priced/
• Its diversification is in a highly competitive and fragmented segments.
• There is no harm in skipping this pricey and dicey bet.
ABOUT COMPANY:
Anirit Ventures Ltd. (AVL) erstwhile known as Flora Textiles Ltd.) was incorporated as Flora Textiles Limited on 10th March, 1993 under the provisions of Companies Act, 1956 in Registrar of Companies, Coimbatore, Tamil Nadu. Subsequently, pursuant to a special resolution passed by the shareholders through Postal Ballot on 15th December, 2024, the name of the Company was changed to Anirit Ventures Limited and a fresh certificate of incorporation consequent on change of name was issued by RoC, Coimbatore, Tamil Nadu, on 20th December, 2024.
Further, the Registered Office of the Company has been shifted from 23, Bharathi Park Road, Coimbatore, Tamil Nadu – 641043 to 3A, 3rd Floor, Omkar Esquare, Chunabhatti Signal, Eastern Express Highway, Sion (East), Mumbai – 400022. Consequent upon the change in the Registered Office from the State of Tamil Nadu to the State of Maharashtra, a fresh Certificate of Incorporation has been issued by the Registrar of Companies, Mumbai, Maharashtra, dated 27th June, 2025.
The Company plan to enter into various sectors, including promoting development of agricultural and non-agricultural ventures, Agritourism, agricultural infrastructure, Agri-biogas, Agri-waste handling, technology, and innovation. AVL also intends to operate into green technology field related to carbon capture and reduction. The Company is exploring development of green technologies and undertake cutting-edge projects to deploy and implement its R&D-driven innovations which will not only focus on advanced technologies with strong potential, ultimately commercializing solutions for industry but also explore other related business-like supply chain, agro forestry and agro tourism. The offer document is silent on its employees’ strength.
ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 12000000 equity shares of Rs. 10 each at a fixed price of Rs. 33 per share to mobilize Rs. 39.60 cr. The RI opens for subscription on December 26, 2025, and will close on January 05, 2026. The company is offering RI in the ratio of 2 for 1 to its eligible stakeholders as of the record date of December 18, 2025. The company is asking for Rs. 23 per share (69.70%) on application for the number of shares applied. The balance Rs. 10 (30.30%) by one or more subsequent calls as determined by the company from time to time. Post allotment, RI shares will be listed on BSE. The company is spending Rs. 13.80 cr. for this RI process, and from the net proceeds, it will utilize Rs. 12.87 cr. for acquiring shares of Anirit Agritech Pvt. Ltd., Rs. 9.97 cr. for repayment of loan, Rs. 2.50 cr. for investing in additional capital of Anirit Agritech, Rs. 4.00 cr. for acquisitions/joint ventures, Rs. 1.70 cr. for R & D in relation to compressed bio-gas, bio char, industrial decarbonization, heat reflective technologies, Rs. 8.42 cr. for general corporate purposes.
The RI is solely lead managed by the company itself., and MUFG Intime India Pvt. Ltd. is the registrar to the issue.
Post-RI, company’s current paid-up equity capital of Rs. 6.00 cr. will stand enhanced to Rs. 18.00 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 59.40 cr.
FINANCIAL PERFORMANCE:
On the financial performance front, for the last two fiscals, the company has posted total income / net profit/ - (loss), of Rs. 6.51 cr. / Rs. 6.08 cr. (FY24), Rs. 0.10 cr. / Rs. – (0.79) cr. (FY25). For H1 of FY26 ended on September 30, 2025, it posted a loss of Rs. – (1.73) cr. on a total income of Rs. 0.023 cr. Its NAV stood at Rs. 3.22 as of September 30, 2025. It posted erratic and minuscule financial performances so far. FY24 boosted net is attributed to extraordinary other income.
DIVIDEND POLICY:
The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects.
SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 530705 (FV Rs. 10).
The scrip last closed on cum-right basis at Rs. 93.26 on December 17, 2025, and opened on an ex-right basis at Rs. 54.12 on December 18, 2025. Since then, it has marked a high/low of Rs. 54.12 / Rs. 50.60. The scrip last closed at Rs. 50.60 as of December 24, 2025. For the last 52 weeks’ it has posted a high/low of Rs. 96.25 / Rs. 29.92.
The promoters’ holding remained constant at 55.53% for the last three quarters ended with September 30, 2025. The counter is trading above the RI price, with very thin volume by the vested interest operators.
Review By Dilip Davda on December 25, 2025
Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.
He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.
Dilip Davda
SEBI Registered Research Analyst – Mumbai
Registration No.: INH000003127 (Perpetual)
Email: dilip_davda@rediffmail.com
Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.
