₹37.53 Crores | Listing at BSE | Wed, Jan 10, 2024 - Mon, Jan 29, 2024
La Tim Metal And Industries Limited Rights Issue comprises 4.42 Cr equity shares aggregating to ₹37.53 Cr, offered at an issue price of ₹8.5 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jan 2, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 2.
The term of payment is defined as following : The amount of Rs. 4.25 per Rights Equity Share (including premium of Rs. 3.25) is to be paid on the Application. The balance of Rs 4.25 is to be paid on call as determined by the Board.
The Rights Entitlements are expected to be credited to eligible demat accounts on Feb 6, 2024.
The Rights Issue opens on Jan 10, 2024, and closes on Jan 29, 2024, with renunciation of Rights Entitlements permitted up to Jan 23, 2024.
The deemed date of allotment is Feb 6, 2024, following which the equity shares are expected to be credited to demat accounts on Feb 7, 2024 and listed at the BSE on Feb 12, 2024.
Skyline Financial Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the La Tim Metal And Industries Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Tue, Jan 2, 2024
Entitlement Ratio
1 : 2
Open Date
Wed, Jan 10, 2024
Close Date
Mon, Jan 29, 2024
The amount of Rs. 4.25 per Rights Equity Share (including premium of Rs. 3.25) is to be paid on the Application. The balance of Rs 4.25 is to be paid on call as determined by the Board.
Latim Metal And Industries Limited's revenue decreased by -52.03% and profit after tax (PAT) dropped by -141.7% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 110.09 | 159.23 |
| Revenue | 273.32 | 569.76 |
| Profit After Tax | -7.50 | 17.98 |
| Net Worth | 27.71 | 35.18 |
| Reserves and Surplus | 18.88 | 26.35 |
| Total Borrowing | 46.54 | 40.32 |
| Amount in ₹ Crore | ||
Founded in 1975, La Tim Metal & Industries Limited manufactures pre-painted galvanised iron steel, pre-painted galvalume steel, and pre-painted cold rolled sheets.
The company is also active in trading and specializes in products such as galvalume steel, galvanized steel, cold-rolled coils, aluminum-zinc alloy-coated steel sheets, and galvanized steel.
The company's paint coating facility is located in Umargam, Gujarat, on a land area of 12,024 square meters with a capacity of over 90000 MTPA and is used for producing and processing high-quality Colour Coated and Design Coated Steel and aluminum coils and sheets (PPGI, PPGL, PPGA, PPEG, PPAL, PPCR, etc.). These products are used across various industries and are manufactured as per the specific requirements of customers.
The product range of the company includes
The company proposes to utilize the Net Proceeds towards the following objects:
[Dilip Davda] This RI is at hefty discount of around 116% based on its last traded price. However, its dull performance for FY23 raise concern. Though it has turned around as per the stock exchange filings for H1 of FY24. The company is operating in a highly competitive and fragmented segment. Well-informed investors may park funds for the long term rewards. Read detail review...
La Tim Metal And Industries Rights Issue 2023 got oversubscribed by 2.05 times by the end of the bidding period with total bid quantity received by BSE of 9,03,43,245 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Jan 29 2024 17:00:00 | 9,03,43,245 | 2.05x |
La Tim Metal And Industries Limited
201, Navkar Plaza,
Bajaj Road,
Vile Parle (West), Mumbai-400 056
Vile Parle, Maharashtra, 400056
Skyline Financial Services Pvt.Ltd.
The La Tim Metal And Industries Rights Issue 2023 opens on Wed, Jan 10, 2024, and closes on Mon, Jan 29, 2024.
La Tim Metal And Industries Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Mon, Jan 8, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Jan 23, 2024 |
| Issue Opening Date | Wed, Jan 10, 2024 |
| Issue Closing Date | Mon, Jan 29, 2024 |
| Date of Allotment (on or about) | Tue, Feb 6, 2024 |
| Date of Credit (on or about) | Wed, Feb 7, 2024 |
| Date of Listing (on or about) | Mon, Feb 12, 2024 |
You can apply for La Tim Metal And Industries Rights Issue 2023 in two ways:
Steps to apply for La Tim Metal And Industries Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for La Tim Metal And Industries Rights Issue 2023 using Registrar's website (R-WAP)
