₹49.25 Crores | Listing at BSE | Tue, Jul 5, 2022 - Tue, Jul 19, 2022
Banas Finance Limited Rights Issue comprises 2.46 Cr equity shares aggregating to ₹49.25 Cr, offered at an issue price of ₹20 per share with a face value of ₹10 per share.
The record date for determining eligible shareholders is Jun 24, 2022.
As per the terms of payment, ₹20 per share payable in full at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 4, 2022.
The Rights Issue opens on Jul 5, 2022, and closes on Jul 19, 2022, with renunciation of Rights Entitlements permitted up to Jul 14, 2022.
The deemed date of allotment is Jul 28, 2022, following which the equity shares are expected to be credited to demat accounts on Aug 1, 2022 and listed on the BSE on Aug 2, 2022.
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Banas Finance Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Jun 24, 2022
Entitlement Ratio
:
Open Date
Tue, Jul 5, 2022
Close Date
Tue, Jul 19, 2022
| Particulars | For the year/period ended (Rs.in Lakhs) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | ||
| Total Assets | 18,808.10 | 10,426.92 | |
| Total Income | 10,094.86 | 1,446.99 | |
| Profit After Tax | 6,917.79 | 1,165.91 | |
Banas Finance Limited is a Non-Banking Finance Company. The company is engaged in the business of purchasing, leasing, factoring, financing hire-purchase, and leasing all kinds of plants and machinery, motor vehicles, motor boats, trawlers, launches, ships, vessels, helicopters, aircraft, automobiles and computers.
The intended use of the Net Proceeds of the Issue by the company is set forth below:
1. Towards working capital requirements.
2. Investment in the Associate, Tilak Ventures Limited for augmentation of funding requirements for its business activities.
3. General Corporate Purposes.
[Dilip Davda] Though its financial performance for the past two fiscals shows good improvement and it has good reserves as of March 31, 2022, its last 52 weeks' high/low indicates a cause for concern since it has posted a low of Rs. 5.22. As per exchange filings, for March 2022 quarter it posted a big loss. Based on its performance and book value, RI is lucratively priced, but market movement hints at a non-fancy counter. Hence risk seekers/cash surplus investors may consider parking funds with a long-term perspective. Read detail review...
Banas Finance Limited
E-109, Crystal Plaza,
New Link Road, Opp. Infinity Mall,
Andheri (West), Mumbai – 400053
Andheri, Maharashtra, 400053
Purva Sharegistry (India) Pvt.Ltd.
The Banas Finance Rights Issue 2022 opens on Tue, Jul 5, 2022, and closes on Tue, Jul 19, 2022.
Banas Finance Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | Mon, Jul 4, 2022 |
| Last Date for renunciation of Rights Entitlements | Thu, Jul 14, 2022 |
| Issue Opening Date | Tue, Jul 5, 2022 |
| Issue Closing Date | Tue, Jul 19, 2022 |
| Date of Allotment (on or about) | Thu, Jul 28, 2022 |
| Date of Credit (on or about) | Mon, Aug 1, 2022 |
| Date of Listing (on or about) | Tue, Aug 2, 2022 |
You can apply for Banas Finance Rights Issue 2022 in two ways:
Steps to apply for Banas Finance Rights Issue 2022 using Net Banking (ASBA)
Steps to apply for Banas Finance Rights Issue 2022 using Registrar's website (R-WAP)
