₹49.40 Crores | Listing at BSE | Mon, Nov 11, 2024 - Mon, Dec 9, 2024
Diligent Industries Ltd. Rights Issue comprises 13.72 Cr equity shares aggregating to ₹49.40 Cr, offered at an issue price of ₹3.6 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Oct 24, 2024, with the Rights Issue being offered in the entitlement ratio of 6 : 5.
The term of payment is defined as following : The full amount of the Issue Price being Rs 3.60 will be payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Nov 30, 2024.
The Rights Issue opens on Nov 11, 2024, and closes on Dec 9, 2024, with renunciation of Rights Entitlements permitted up to Nov 18, 2024.
The deemed date of allotment is Nov 30, 2024, following which the equity shares are expected to be credited to demat accounts on Dec 4, 2024 and listed at the BSE on Dec 6, 2024.
Venture Capital & Corporate Investments Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Diligent Industries Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Oct 24, 2024
Entitlement Ratio
6 : 5
Open Date
Mon, Nov 11, 2024
Close Date
Mon, Dec 9, 2024
The full amount of the Issue Price being Rs 3.60 will be payable on application.
Diligent Industries Ltd.'s revenue decreased by -0.9% and profit after tax (PAT) dropped by -6.17% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 115.55 | 90.29 | 57.16 |
| Revenue | 123.95 | 125.08 | 103.45 |
| Profit After Tax | 2.03 | 2.16 | 1.37 |
| Net Worth | 17.93 | 15.91 | 13.75 |
| Reserves and Surplus | 6.50 | 4.47 | 2.31 |
| Total Borrowing | 57.06 | 48.37 | 31.36 |
| Amount in ₹ Crore | |||
The company was incorporated on January 13, 1995 as Yatish Securities Limited and later changed its name to Diligent Industries Limited. The company is engaged in the manufacturing, processing and trading of edible oils, food and agricultural products in India.
Its diverse product range includes rice bran oil, palm carnal oil and cotton oil. Recently, the company has expanded its product range to include refined edible oils, which will increase its market presence and strengthen its brand image.
To drive growth, the company is focusing on building its brand image, expanding its refinery capacity and moving into the cattle feed manufacturing sector. The company is committed to increasing operational efficiency and product quality through continuous improvements and maintaining close customer relationships.
The Objects of the Issue are:
1. Adjustment of Unsecured Loans against the Rights Entitlement of the Promoters.
2. Towards meeting working capital requirements; and
3. General Corporate Purposes
[Dilip Davda] The company is operating in a highly competitive and fragmented segment manufacturing, processing and marketing of edible oils, agri commodities etc. It posted almost static top and bottom lines for the reported periods. The RI appears fully priced. Well-informed investors may park moderate funds for long term. Read detail review...
Diligent Industries Rights Issue 2024 got subscribed by 0.4 times by the end of the bidding period with total bid quantity received by BSE of 5,55,42,338 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Dec 09 2024 17:00:00 | 5,55,42,338 | 0.40x |
Diligent Industries Ltd.
Dwarka Thirumala Road,
Dendurulu Village and Mandal,
West Godavari - 534 452
West Godavari, Andhra Pradesh, 534452
Venture Capital & Corporate Investments Ltd.
The Diligent Industries Rights Issue 2024 opens on Mon, Nov 11, 2024, and closes on Mon, Dec 9, 2024.
Diligent Industries Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Thu, Nov 7, 2024 |
| Last Date for renunciation of Rights Entitlements | Mon, Nov 18, 2024 |
| Issue Opening Date | Mon, Nov 11, 2024 |
| Issue Closing Date | Mon, Dec 9, 2024 |
| Date of Allotment (on or about) | Sat, Nov 30, 2024 |
| Date of Credit (on or about) | Wed, Dec 4, 2024 |
| Date of Listing (on or about) | Fri, Dec 6, 2024 |
You can apply for Diligent Industries Rights Issue 2024 in two ways:
Steps to apply for Diligent Industries Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Diligent Industries Rights Issue 2024 using Registrar's website (R-WAP)
