₹48.75 Crores | Listing at BSE, NSE | Mon, Sep 9, 2024 - Mon, Sep 30, 2024
Akshar Spintex Ltd Rights Issue comprises 48.75 Cr equity shares aggregating to ₹48.75 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Aug 23, 2024, with the Rights Issue being offered in the entitlement ratio of 13 : 8.
The term of payment is defined as following : The entire amount of the Issue Price of Re. 1 per Rights Equity Share shall be payable at the time of Application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Oct 9, 2024.
The Rights Issue opens on Sep 9, 2024, and closes on Sep 30, 2024, with renunciation of Rights Entitlements permitted up to Sep 24, 2024.
The deemed date of allotment is Oct 9, 2024, following which the equity shares are expected to be credited to demat accounts on Oct 14, 2024 and listed at the NSE and the BSE on Oct 15, 2024.
Bigshare Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Akshar Spintex Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Aug 23, 2024
Entitlement Ratio
13 : 8
Open Date
Mon, Sep 9, 2024
Close Date
Mon, Sep 30, 2024
The entire amount of the Issue Price of Re. 1 per Rights Equity Share shall be payable at the time of Application.
Akshar Spintex Ltd's revenue increased by 29% and profit after tax (PAT) rose by 224.99% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 73.86 | 76.44 | 92.88 |
| Revenue | 177.91 | 137.92 | 175.57 |
| Profit After Tax | 3.46 | -2.76 | 7.02 |
| Net Worth | 43.88 | 40.64 | 43.23 |
| Reserves and Surplus | 13.88 | 15.64 | 18.23 |
| Total Borrowing | 18.98 | 17.67 | 25.65 |
| Amount in ₹ Crore | |||
Founded in 2013, Akshar Spintex Limited is active in the production of cotton yarn.
The company manufactures 100% cotton yarn which includes combed, semi-combed, and carded yarn. The company's manufacturing facility is located at Kalavad in Jamnagar district in the state of Gujarat and is spread over an area of 1,83,437 sq. ft. which is close to the rich cotton-growing areas of Gujarat. The company has installed a total capacity of 24,480 spindles.
The company's product range includes:
As of March 31, 2024, the company had 204 employees.
The Company proposes to utilize the net proceeds raised through the Issue for the below mentioned Objects:
[Dilip Davda] The company that came with its maiden IPO in April/May 2018 at a price of Rs. 40 per share to mobilize Rs. 26.99 cr. has posted mixed performance and volatile trades. It is now coming out with a rights issue at par value of Re. 1. Decreased promoter’s holding raises concern. It posted inconsistent financial performance for the last three fiscals. Well-informed investors may park moderate funds for long term, in this at par bet considering ongoing fancy in textile segment. Read detail review...
Akshar Spintex Rights Issue 2024 got oversubscribed by 1.33 times by the end of the bidding period with total bid quantity received by BSE and NSE of 64,85,46,466 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
Sep 30 2024 17:00:00 | 63,52,21,372 | 1,33,25,094 | 64,85,46,466 | 1.33x |
Akshar Spintex Ltd
Revenue Survey No.102/2 Paiki,
Plot No. - 2 Village: Haripar,
Ranuja Road. Tal: Kalavad. Jamnagar - 361013
Jamnagar, Gujarat, 361013
The Akshar Spintex Rights Issue 2024 opens on Mon, Sep 9, 2024, and closes on Mon, Sep 30, 2024.
Akshar Spintex Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Wed, Sep 4, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Sep 24, 2024 |
| Issue Opening Date | Mon, Sep 9, 2024 |
| Issue Closing Date | Mon, Sep 30, 2024 |
| Date of Allotment (on or about) | Wed, Oct 9, 2024 |
| Date of Credit (on or about) | Mon, Oct 14, 2024 |
| Date of Listing (on or about) | Tue, Oct 15, 2024 |
You can apply for Akshar Spintex Rights Issue 2024 in two ways:
Steps to apply for Akshar Spintex Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Akshar Spintex Rights Issue 2024 using Registrar's website (R-WAP)
