₹49.62 Crores | Listing at BSE | Tue, Jul 19, 2022 - Wed, Aug 17, 2022
Maharashtra Corporation Iimíted Rights Issue comprises 49.62 Cr equity shares aggregating to ₹49.62 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholders is Jul 8, 2022.
As per the terms of payment, ₹1 per share payable on application, with the balance payable in call(s).
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 15, 2022.
The Rights Issue opens on Jul 19, 2022, and closes on Aug 17, 2022, with renunciation of Rights Entitlements permitted up to Jul 27, 2022.
The deemed date of allotment is Aug 17, 2022, following which the equity shares are expected to be credited to demat accounts on Aug 19, 2022 and listed on the BSE on Aug 22, 2022.
Capital Square Advisors Pvt.Ltd. is the Lead Manager to the issue and Adroit Corporate Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Maharashtra Corporation Iimíted Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Jul 8, 2022
Entitlement Ratio
:
Open Date
Tue, Jul 19, 2022
Close Date
Wed, Aug 17, 2022
| Particulars | For the year/period ended (Rs.in Lakhs) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | ||
| Total Assets | 1,346.40 | 1,216.73 | |
| Total Income | 41.79 | 1.910 | |
| Profit After Tax | 0.56 | -7.31 | |
Maharashtra Corporation Ltd is engaged in the business of investing, trading, and distribution of textiles products, such as gunnies, handicrafts, hessian, tea, shellac, tobacco, hides, skins, kapocks, cotton, cotton goods, myrobalan, nux, indigo, oils, oilcakes, fertilizers, manure, rubber, dates, rice, seeds, chemicals, colour, paints, pigments, timber, iron, steel, carpets and all kinds of goods, products, commodities, articles and things manufactured from or containing in any manner and from any of the foregoing commodities and all goods, products, commodities, articles and things.
The Company proposes to utilize the Net Proceeds to:
1. To finance the purchase, development and construction related expenditures of our Planned Projects.
2. General Corporate Purposes.
[Dilip Davda] MCL has posted minuscule financial performance for the last two fiscals. It kept changing its business model frequently. Lower promoter’s holding raises concern. Its plans for realty development hinges on cutthroat competition and the segment is fragmented. It will be difficult for the company to service its over four-fold higher equity base post-RI. There is no harm in skipping this at-par offer. Read detail review...
Maharashtra Corporation Iimíted
907/908, Dev Plaza,
S.V. Road, Andheri (West),
Mumbai – 400058
Mumbai, Maharashtra, 400058
The Maharashtra Corporation Rights Issue 2022 opens on Tue, Jul 19, 2022, and closes on Wed, Aug 17, 2022.
Maharashtra Corporation Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | Fri, Jul 15, 2022 |
| Last Date for renunciation of Rights Entitlements | Wed, Jul 27, 2022 |
| Issue Opening Date | Tue, Jul 19, 2022 |
| Issue Closing Date | Wed, Aug 17, 2022 |
| Date of Allotment (on or about) | Wed, Aug 17, 2022 |
| Date of Credit (on or about) | Fri, Aug 19, 2022 |
| Date of Listing (on or about) | Mon, Aug 22, 2022 |
You can apply for Maharashtra Corporation Rights Issue 2022 in two ways:
Steps to apply for Maharashtra Corporation Rights Issue 2022 using Net Banking (ASBA)
Steps to apply for Maharashtra Corporation Rights Issue 2022 using Registrar's website (R-WAP)
