₹47.04 Crores | Listing at BSE | Thu, Oct 24, 2024 - Tue, Nov 12, 2024
Kretto Syscon Ltd Rights Issue comprises 47.04 Cr equity shares aggregating to ₹47.04 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Oct 11, 2024, with the Rights Issue being offered in the entitlement ratio of 3 : 1.
The term of payment is defined as following : The entire amount of the Issue Price of Rs. 1.00/- per Rights Equity Share shall be payable at the time of Application
The Rights Entitlements are expected to be credited to eligible demat accounts on Nov 19, 2024.
The Rights Issue opens on Oct 24, 2024, and closes on Nov 12, 2024, with renunciation of Rights Entitlements permitted up to Nov 6, 2024.
The deemed date of allotment is Nov 19, 2024, following which the equity shares are expected to be credited to demat accounts on Nov 30, 2024 and listed at the BSE on Nov 28, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Kretto Syscon Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Oct 11, 2024
Entitlement Ratio
3 : 1
Open Date
Thu, Oct 24, 2024
Close Date
Tue, Nov 12, 2024
The entire amount of the Issue Price of Rs. 1.00/- per Rights Equity Share shall be payable at the time of Application
Kretto Syscon Ltd's revenue increased by 11.76% and profit after tax (PAT) rose by 35.4% 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 | 18.52 | 17.56 | |
| Revenue | 0.70 | 0.63 | 4.15 |
| Profit After Tax | 0.25 | 0.19 | 0.18 |
| Net Worth | 16.71 | 16.46 | 16.28 |
| Reserves and Surplus | 1.03 | 0.78 | |
| Total Borrowing | 1.02 | ||
| Amount in ₹ Crore | |||
Kretto Syscon Ltd was founded in 1994 as Ideal Optics Ltd, in 2016 the company was renamed Ideal Texbuild Ltd and in 2017 Kretto Syscon Ltd.
The company specializes in the development and construction of real estate and focuses on residential and commercial projects in Ahmedabad, Gujarat. The focus is on innovative architecture and high-quality execution.
The company also develops and provide systems and application software, specializing in microprocessor-based information systems and offshore software projects, including emerging segments such as the Internet.
The Company intends to utilize the Net Proceeds from this Issue towards the following objects:
1. To meet incremental working Capital requirements
2. Acquisition of Software ; and
3. General corporate purposes
[Dilip Davda] The company kept changing its registered office, object clauses, rise/drop in equity capital, name of the company and other gimmicks to stay in limelight. It has recently diversified in to real estate related activities and services. It posted a surprising set of financial performance that has been on a minuscule level. Post-RI, four times paid-up equity will face its servicing issue considering its financial performance so far. There is no promoter holding in this company and it purely an operator base company. There is no harm in skipping this “High Risk/Low Return” at par offer. (Avoid). Read detail review...
Kretto Syscon Rights Issue 2024 got oversubscribed by 1.13 times by the end of the bidding period with total bid quantity received by BSE of 53,03,22,995 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Nov 12 2024 17:00:00 | 53,03,22,995 | 1.13x |
Kretto Syscon Ltd
A-401, Sankalp Iconic Opp. Vikram Nagar,
Iscon Temple Cross Road,
S.G Highway, Ahmedabad 380054
Ahmedabad, Gujarat, 380054
Purva Sharegistry (India) Pvt.Ltd.
The Kretto Syscon Rights Issue 2024 opens on Thu, Oct 24, 2024, and closes on Tue, Nov 12, 2024.
Kretto Syscon Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Wed, Nov 6, 2024 |
| Last Date for renunciation of Rights Entitlements | Wed, Nov 6, 2024 |
| Issue Opening Date | Thu, Oct 24, 2024 |
| Issue Closing Date | Tue, Nov 12, 2024 |
| Date of Allotment (on or about) | Tue, Nov 19, 2024 |
| Date of Credit (on or about) | Sat, Nov 30, 2024 |
| Date of Listing (on or about) | Thu, Nov 28, 2024 |
You can apply for Kretto Syscon Rights Issue 2024 in two ways:
Steps to apply for Kretto Syscon Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Kretto Syscon Rights Issue 2024 using Registrar's website (R-WAP)
