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Coastal Corporation Limited Rights Issue (Coastal Corporation Rights Issue 2022) Detail

Sep 12, 2022 - Sep 27, 2022
Coastal Corporation Limited Logo

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

Coastal Corporation Rights Issue 2022 Detail

Issue Open Sep 12, 2022 - Sep 27, 2022
Security Name Coastal Corporation Limited
Issue Size (Shares) 1,929,800
Issue Size (Amount) ₹43.42 Crores
Issue Price ₹225 per share
Face Value ₹10 per share
Listing At BSE
Terms of Payment The amount of Rs 56.25 per share has to be paid at the time of Application and the balance is to be paid in two calls as determined by our Board at its sole discretion from time to time.
Entitlement 1 Equity Shares for every 6 Equity Shares held on the Record Date

Coastal Corporation Rights Issue 2022 Issue Timetable

Record Date Aug 26, 2022
Credit of Rights Entitlements Sep 5, 2022
Bid/Offer Opens On Sep 12, 2022
Renunciation of Rights Entitlements Sep 21, 2022
Bid/Offer Closes On Sep 27, 2022
Deemed Date of Allotment Oct 6, 2022
Credit Date Oct 11, 2022
Listing Date Oct 14, 2022

Company Financials

Coastal Corporation Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-21327.87481.9418.41
31-Mar-22397.57504.3813.55
Amount in ₹ Crore

Objects of the Issue:

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

Coastal Corporation Rights Issue 2022 Documents

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Company Contact Information

Coastal Corporation Limited
15-1-37/3, Jayaprada Apartments,
Nowroji Road, Maharanipeta,
Visakhapatnam-530 002

Phone: +91-891-2567118
Email: mkrishna@coastalcorp.co.in
Website: https://coastalcorp.co.in/

Coastal Corporation Rights Issue 2022 Registrar

  1. Bigshare Services Pvt Ltd
    Phone: +91-22-6263 8200
    Email: rightsissue@bigshareonline.com
    Website: http://www.bigshareonline.com

Coastal Corporation Rights Issue 2022 Lead Manager(s)

Coastal Corporation Rights Issue 2022 FAQs

The Coastal Corporation Rights Issue 2022 opens on Sep 12, 2022, and closes on Sep 27, 2022.

Coastal Corporation Rights Issue 2022 Schedule

Last Date for credit of Rights EntitlementsSep 5, 2022
Last Date for renunciation of Rights EntitlementsSep 21, 2022
Issue Opening DateSep 12, 2022
Issue Closing DateSep 27, 2022
Date of Allotment (on or about)Oct 6, 2022
Date of Credit (on or about)Oct 11, 2022
Date of Listing (on or about)Oct 14, 2022

Coastal Corporation Rights Issue 2022 price is set at ₹225 per share per equity share.

The eligible shareholders are being offered 1 Equity Shares for every 6 Equity Shares held on the Record Date (Aug 26, 2022).

The record date for the Coastal Corporation Rights Issue 2022 is Aug 26, 2022.

The issue size of Coastal Corporation Rights Issue 2022 is of 1,929,800 equity shares at ₹225 per share aggregating upto ₹43.42 Crores.

The Letter of Offer for Coastal Corporation Rights Issue 2022 can be download here.

You can apply for Coastal Corporation Rights Issue 2022 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Coastal Corporation Rights Issue 2022 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Coastal Corporation Rights Issue 2022 available on the list.
  4. Click the Apply button next to the Coastal Corporation Rights Issue 2022.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Coastal Corporation Rights Issue 2022 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Coastal Corporation Rights Issue 2022 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

7 Comments

7. Pankaj   I Like It. | Report Abuse |   Link | Sep 25, 2022 10:04:22 AM Reply
Can i apply this right issue , i have zero share of this company
6. Arga   I Like It. | Report Abuse |   Link | Sep 22, 2022 11:36:19 AM Reply
Anyone tried with icici asba? I don't see coastal corp listed in rights there. Can someone help?
5. Ashish shinde   I Like It. | Report Abuse |   Link | Sep 21, 2022 4:51:00 PM Reply
How to aply for right issue
My netbanking is off and my bank is not provided services off asba
4. nitingoyal   I Like It. | Report Abuse |   Link | Sep 14, 2022 5:23:55 PM Reply
@admin I tried to apply to rights issue through indusind bank for the first time. The form asks for application number and also gives an option to generate automatic application number. Is entering application number mandatory and from where will we get the application number.
3. Vara Prasad   I Like It. | Report Abuse |   Link | Sep 8, 2022 4:56:17 PM Reply
If Sold after record date .Does he eligible for rights issue
3.1. Scrip   I Like It. | Report Abuse |   Link | Sep 13, 2022 8:19:57 PM
yes.

u can check it either on bigshare website or email-id
2. abrakadabra   I Like It. | Report Abuse |   Link | Sep 12, 2022 7:55:50 PM Reply
has the price been adjusted for rights issue?
1. Prashantj   I Like It. | Report Abuse |   Link | Sep 1, 2022 11:56:57 PM Reply
What happens if someone is holding 20 shares as he/she will be eligible for the 3 shares for the 18 shares. What about the additional 2 shares?
1.1. Zerodha   I Like It. | Report Abuse |   Link | Sep 2, 2022 4:35:57 PM
Nothing to do with that. if you avail 3 RE shares, your total number will be 20+3=23 shares.