₹12.73 Crores | Listing at BSE, NSE | Thu, Jun 13, 2024 - Fri, Jun 28, 2024
Nakoda Group Of Industries Ltd Rights Issue comprises 0.5090 Cr equity shares aggregating to ₹12.73 Cr, offered at an issue price of ₹25 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is May 30, 2024, with the Rights Issue being offered in the entitlement ratio of 4 : 10.
The term of payment is defined as following : Rs 6.25 on application. Rs 18.75 in one or more subsequent Call(s) as determined by the Board at its sole discretion, from time to time.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 5, 2024.
The Rights Issue opens on Jun 13, 2024, and closes on Jun 28, 2024, with renunciation of Rights Entitlements permitted up to Jun 24, 2024.
The deemed date of allotment is Jul 5, 2024, following which the equity shares are expected to be credited to demat accounts on Jul 10, 2024 and listed at the NSE and the BSE on Jul 15, 2024.
Bigshare Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Nakoda Group Of Industries Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, May 30, 2024
Entitlement Ratio
4 : 10
Open Date
Thu, Jun 13, 2024
Close Date
Fri, Jun 28, 2024
Rs 6.25 on application. Rs 18.75 in one or more subsequent Call(s) as determined by the Board at its sole discretion, from time to time.
Nakoda Group Of Industries Ltd's revenue decreased by -13.78% and profit after tax (PAT) rose by 132.22% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 40.68 | 41.44 | 41.55 | 40.41 |
| Revenue | 47.13 | 54.67 | 59.98 | 30.88 |
| Profit After Tax | 2.12 | 0.91 | 1.74 | 1.32 |
| Reserves and Surplus | 1.74 | 3.95 | ||
| Amount in ₹ Crore | ||||
Founded in 1989, Nakoda Group of Industries Limited manufactures healthy and natural products based on dried fruits.
Nakoda Group of Industries manufactures Tutti Fruity (diced chicory), also called "papaya jam", Karonda cherries (Indian cherries), sweet lime peels, sliced orange peels, hulled sesame seeds, all kinds of jams, sauces, spices, chikkis (fruit bars), pickles, papads, canned vegetables and frozen fruits and vegetables.
The company has three manufacturing units in Nagpur, namely Navkar Processors, Nakoda Fruit Products Pvt. Ltd. and Parshva Food International. Navkar Processors deals in Tutti Fruity, cherries, jams and peels, while Nakoda Fruit Products Pvt. Ltd. offers all kinds of papads, pickles, chikkis (fruit bars), spices etc. and Parshva Food International manufactures canned fruits and vegetables, mango and guava pulp, frozen peas, frozen vegetables, dried vegetables, etc. Each unit has a production capacity of 8 to 10 million tonnes per day.
The Nakoda Group has around 80% export-oriented, business and the rest is in the Indian domestic market. Its customers include ice-cream factories, bakeries, confectionery and namkeens factories, airlines, railroad catering and the Indian military. The company imports almonds in shell, pistachios, Iranian dates, Iranian saffron and spices from China, Vietnam and Indonesia and sells them both in the domestic market and to its sister companies, which process many other items through its import arm Parshvanath Overseas.
The company proposes to utilize the net proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is making hat trick of RIs since April 2022, and every time we witnessed lower price for RIs. The company is operating in a highly competitive and fragmented segment. Surprisingly, it posted loss for FY24 on a declined top line and that raise concern. The RI is at a discount of around 47% based on its last traded price and appears lucratively priced, but considering loss for FY24, it appears aggressively priced. Well-informed/cash surplus investors may park moderate funds for long term. Read detail review...
Nakoda Group Of Industries Rights Issue 2024 got oversubscribed by 2.68 times by the end of the bidding period with total bid quantity received by BSE and NSE of 1,36,17,429 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
Jun 28 2024 17:00:00 | 1,09,82,773 | 26,34,656 | 1,36,17,429 | 2.68x |
Nakoda Group Of Industries Ltd
Plot No. 239, South Old Bagadganj,
Small Factory Area,
Nagpur - 440 008
Nagpur, Maharashtra, 440008
The Nakoda Group Of Industries Rights Issue 2024 opens on Thu, Jun 13, 2024, and closes on Fri, Jun 28, 2024.
Nakoda Group Of Industries Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Mon, Jun 10, 2024 |
| Last Date for renunciation of Rights Entitlements | Mon, Jun 24, 2024 |
| Issue Opening Date | Thu, Jun 13, 2024 |
| Issue Closing Date | Fri, Jun 28, 2024 |
| Date of Allotment (on or about) | Fri, Jul 5, 2024 |
| Date of Credit (on or about) | Wed, Jul 10, 2024 |
| Date of Listing (on or about) | Mon, Jul 15, 2024 |
You can apply for Nakoda Group Of Industries Rights Issue 2024 in two ways:
Steps to apply for Nakoda Group Of Industries Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Nakoda Group Of Industries Rights Issue 2024 using Registrar's website (R-WAP)
