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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
| Issue Open | September 12, 2022 - September 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 |
| Record Date | August 26, 2022 |
| Credit of Rights Entitlements | September 5, 2022 |
| Bid/Offer Opens On | September 12, 2022 |
| Renunciation of Rights Entitlements | September 21, 2022 |
| Bid/Offer Closes On | September 27, 2022 |
| Deemed Date of Allotment | October 6, 2022 |
| Credit Date | October 11, 2022 |
| Listing Date | October 14, 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 | |||
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
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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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
The Coastal Corporation Rights Issue 2022 opens on September 12, 2022, and closes on September 27, 2022.
Coastal Corporation Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | September 5, 2022 |
| Last Date for renunciation of Rights Entitlements | September 21, 2022 |
| Issue Opening Date | September 12, 2022 |
| Issue Closing Date | September 27, 2022 |
| Date of Allotment (on or about) | October 6, 2022 |
| Date of Credit (on or about) | October 11, 2022 |
| Date of Listing (on or about) | October 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 (August 26, 2022).
The record date for the Coastal Corporation Rights Issue 2022 is August 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:
Steps to apply for Coastal Corporation Rights Issue 2022 using Net Banking (ASBA)
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)
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