₹49.88 Crores | Listing at BSE | Fri, Dec 22, 2023 - Thu, Jan 4, 2024
Asit C. Mehta Financial Services Limited Rights Issue comprises 0.3293 Cr equity shares aggregating to ₹49.88 Cr, offered at an issue price of ₹137.4 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Dec 15, 2023, with the Rights Issue being offered in the entitlement ratio of 133 : 200.
The term of payment is defined as following : Full amount of ₹ 151.44 per Unit shall be payable on Application
The Rights Entitlements are expected to be credited to eligible demat accounts on Jan 10, 2024.
The Rights Issue opens on Dec 22, 2023, and closes on Jan 4, 2024, with renunciation of Rights Entitlements permitted up to Jan 1, 2024.
The deemed date of allotment is Jan 10, 2024, following which the equity shares are expected to be credited to demat accounts on Dec 15, 2023 and listed at the BSE on Dec 17, 2023.
MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Asit C. Mehta Financial Services Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Dec 15, 2023
Entitlement Ratio
133 : 200
Open Date
Fri, Dec 22, 2023
Close Date
Thu, Jan 4, 2024
Full amount of ₹ 151.44 per Unit shall be payable on Application
Asit C. Mehta Financial Services Limited's revenue decreased by -18.56% and profit after tax (PAT) dropped by -736.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 15,929.18 | 17,033.62 | 15,963.42 |
| Revenue | 3,383.24 | 4,154.08 | 3,923.65 |
| Profit After Tax | -931.25 | 146.33 | 225.69 |
| Net Worth | |||
| Reserves and Surplus | 1,647.92 | 2,220.96 | 3,991.65 |
| Total Borrowing | |||
| Amount in ₹ Crore | |||
Incorporated in 1984, Asit C Mehta provides advisory and consultancy services for fund mobilization, company restructuring and property rentals.
The Company is divided into four segments - Advisory and Consultancy, Investment Activities, Information Technology, and Stock Broking and Allied Services.
The services provided by the Company include retail services, institutional services, investment banking, digital marketing services, and ITeS services. The retail services consist of investment advisory and execution, financial planning, NRI Solutions, high net-worth individual solutions, and trade execution platform. The institutional services include equities, debt, and forex.
The Company also offers valuation services, such as employee stock ownership plan (ESOP) and asset valuations. Additionally, it helps companies in the banking, financial services, and insurance sectors to execute various business processes. The Company offers a variety of digital marketing campaigns.
The company proposes to utilize the Net Proceeds towards funding the following Objects:
[Dilip Davda] Though this RI is at a nominal discount to its current market price, it appears that the counter is managed above the RI price to lure investors. On the financial front, it has posted disappointing performances with a loss since FY23.There is no harm in skipping this pricey RI. Read detail review...
Asit C. Mehta Rights Issue 2023 got subscribed by 0.58 times by the end of the bidding period with total bid quantity received by BSE of 18,96,077 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Jan 04 2024 17:00:00 | 18,96,077 | 0.58x |
Asit C. Mehta Financial Services Limited
Pantomath Nucleus House
Saki Vihar Road
Andheri (East), Mumbai 400072.
Andheri, Maharashtra, 400072
The Asit C. Mehta Rights Issue 2023 opens on Fri, Dec 22, 2023, and closes on Thu, Jan 4, 2024.
Asit C. Mehta Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Wed, Dec 20, 2023 |
| Last Date for renunciation of Rights Entitlements | Mon, Jan 1, 2024 |
| Issue Opening Date | Fri, Dec 22, 2023 |
| Issue Closing Date | Thu, Jan 4, 2024 |
| Date of Allotment (on or about) | Wed, Jan 10, 2024 |
| Date of Credit (on or about) | Fri, Dec 15, 2023 |
| Date of Listing (on or about) | Sun, Dec 17, 2023 |
You can apply for Asit C. Mehta Rights Issue 2023 in two ways:
Steps to apply for Asit C. Mehta Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for Asit C. Mehta Rights Issue 2023 using Registrar's website (R-WAP)
