₹14.00 Crores | Listing at BSE | Thu, Nov 25, 2021 - Fri, Dec 10, 2021
HKG Limited Rights Issue comprises 1.75 Cr equity shares aggregating to ₹14.00 Cr, offered at an issue price of ₹8 per share with a face value of ₹2 per share.
The record date for determining eligible shareholders is Nov 15, 2021.
As per the terms of payment, ₹8 per share payable in full at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Nov 22, 2021.
The Rights Issue opens on Nov 25, 2021, and closes on Dec 10, 2021, with renunciation of Rights Entitlements permitted up to Dec 3, 2021.
The deemed date of allotment is Dec 22, 2021, following which the equity shares are expected to be credited to demat accounts on Dec 22, 2021 and listed on the BSE on Dec 24, 2021.
Khambatta Securities 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 HKG Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Mon, Nov 15, 2021
Entitlement Ratio
:
Open Date
Thu, Nov 25, 2021
Close Date
Fri, Dec 10, 2021
| Particulars | For the year/period ended (Rs.in Millions) | |||
|---|---|---|---|---|
| 30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 29.27 | 29.89 | 20.80 | 39.66 |
| Total Income | 4.91 | 66.32 | 9.38 | 72.07 |
| Profit After Tax | (1.01) | 7.08 | (18.88) | (9.04) |
HKG Limited is primarily involved in the business of trading shares and securities and majority of the company's revenue comes from this segment. The company has also started foraying into the business of creating and managing various web portals and wants to venture into the e-commerce industry.
The company has been developing - HKG Money and Mera Style web portals. HKG has also received the marketing rights for - Area Online, My RERA, and My Locker web portals.
The company's vision is to make web interface services accessible to every small business and help in their growth.
The Proceeds from the Issue will be utilized towards funding of the following objects:
[Dilip Davda] The company's financial performance has seen wild fluctuations in the top and bottom lines. It has posted a loss for the quarter ended June 30, 2021 thus it has a negative P/E and following carried forward losses, it has a negative NAV as of September 30, 2021. Considering just 29.66% promoters holding, the counter appears operator driven with wild fluctuations and erratic volumes. As of June 30, 2021, it had a paid-up equity capital of Rs. 3.50 cr. and negative reserves of Rs. - (0.83) cr. However, based on its last 52 weeks price movements, or even for the last three fiscals, RI pricing appears lucrative. Its financial data submitted to BSE for H1 FY22 shows a net profit of Rs. 0.63 cr. on a turnover of Rs. 1.93 cr. Thus the company is on track with profits for since last four quarters. This issue will help in migration to the mainboard in the near term. Considering these aspects, risk seeker/cash surplus investors may opt for investment in this RI. Read detail review...
HKG Limited
C Wing, Madhuban Building, Opp. Dev Nagar,
New Sai Baba Nagar, Kandivali (W),
Mumbai City, Maharashtra – 400 067, India
Mumbai, Maharashtra, 400067
The HKG Rights Issue opens on Thu, Nov 25, 2021, and closes on Fri, Dec 10, 2021.
HKG Rights Issue Schedule
| Last Date for credit of Rights Entitlements | Mon, Nov 22, 2021 |
| Last Date for renunciation of Rights Entitlements | Fri, Dec 3, 2021 |
| Issue Opening Date | Thu, Nov 25, 2021 |
| Issue Closing Date | Fri, Dec 10, 2021 |
| Date of Allotment (on or about) | Wed, Dec 22, 2021 |
| Date of Credit (on or about) | Wed, Dec 22, 2021 |
| Date of Listing (on or about) | Fri, Dec 24, 2021 |
You can apply for HKG Rights Issue in two ways:
Steps to apply for HKG Rights Issue using Net Banking (ASBA)
Steps to apply for HKG Rights Issue using Registrar's website (R-WAP)
