₹43.42 Crores | Listing at BSE | Mon, Sep 12, 2022 - Tue, Sep 27, 2022
Coastal Corporation Limited Rights Issue comprises 0.1930 Cr equity shares aggregating to ₹43.42 Cr, offered at an issue price of ₹225 per share with a face value of ₹10 per share.
The record date for determining eligible shareholders is Aug 26, 2022.
As per the terms of payment, ₹225 per share payable on application, with the balance payable in call(s).
The Rights Entitlements are expected to be credited to eligible demat accounts on Sep 5, 2022.
The Rights Issue opens on Sep 12, 2022 and closes on Sep 27, 2022.
The deemed date of allotment is Oct 6, 2022, following which the equity shares are expected to be credited to demat accounts on Oct 11, 2022 and listed on the BSE on Oct 14, 2022.
Finshore Management Services Ltd. is the Lead Manager to the issue and Bigshare Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Coastal Corporation Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Aug 26, 2022
Entitlement Ratio
:
Open Date
Mon, Sep 12, 2022
Close Date
Tue, Sep 27, 2022
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 327.87 | 481.94 | 18.41 |
| 31-Mar-22 | 397.57 | 504.38 | 13.55 |
| Amount in ₹ Crore | |||
Coastal Corporation Limited is engaged in the business of processing, production, and distribution of seafood globally. The company's product line involves shrimp products and Aquaculture products.
The company operates two processing plants and the equipment and machinery installed are sourced from the internationally acclaimed seafood process machinery manufacturers the plants have a capacity of 47.5 metric tonnes and 25 metric tonnes per day each. Coastal Corporation is certified for HACCP and follows the BRC Global Standard for Food Safety. The company is also certified by BAP which lays downs the Best Aquaculture Practice
The company intend to utilize the issue proceeds for the following objects:
1. Investment in our wholly owned Subsidiary, Coastal Biotech Private Limited ("CBPL") for part -financing its capital expenditure requirements in relation to the setting up of a manufacturing facility to manufacture 198 KLPD of Ethanol
2. Investment in our wholly owned Subsidiary, Continental Fisheries India Limited ("CFIL") for part -financing its capital expenditure requirements in relation to the setting up shrimp processing unit with installed capacity of 2,500 Kilograms Per Hour and 1,100MT Frozen Storage.
3. To meet the Issue Expenses.
4. General Corporate Purposes
[Dilip Davda] The company is witnessing pressure on margins as indicated by its last two years’ financial data. It appears that the counter is well managed above RI price to lure investors. Cash surplus/risk seeker may consider parking of funds. Read detail review...
Coastal Corporation Limited
15-1-37/3, Jayaprada Apartments,
Nowroji Road, Maharanipeta,
Visakhapatnam-530 002
Visakhapatnam, Andhra Pradesh, 530002
The Coastal Corporation Rights Issue 2022 opens on Mon, Sep 12, 2022, and closes on Tue, Sep 27, 2022.
Coastal Corporation Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | Mon, Sep 5, 2022 |
| Last Date for renunciation of Rights Entitlements | Wed, Sep 21, 2022 |
| Issue Opening Date | Mon, Sep 12, 2022 |
| Issue Closing Date | Tue, Sep 27, 2022 |
| Date of Allotment (on or about) | Thu, Oct 6, 2022 |
| Date of Credit (on or about) | Tue, Oct 11, 2022 |
| Date of Listing (on or about) | Fri, Oct 14, 2022 |
You can apply for Coastal Corporation Rights Issue 2022 in two ways:
Steps to apply for Coastal Corporation Rights Issue 2022 using Net Banking (ASBA)
Steps to apply for Coastal Corporation Rights Issue 2022 using Registrar's website (R-WAP)
