₹288.61 Crores | Listing at BSE, NSE | Mon, Nov 15, 2021 - Mon, Nov 29, 2021
NXTDIGITAL Limited Rights Issue comprises 0.9620 Cr equity shares aggregating to ₹288.61 Cr, offered at an issue price of ₹300 per share with a face value of ₹10 per share.
The record date for determining eligible shareholders is Oct 25, 2021.
As per the terms of payment, ₹300 per share payable in full at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Nov 12, 2021.
The Rights Issue opens on Nov 15, 2021, and closes on Nov 29, 2021, with renunciation of Rights Entitlements permitted up to Nov 24, 2021.
The deemed date of allotment is Dec 4, 2021, following which the equity shares are expected to be credited to demat accounts on Dec 6, 2021 and listed on NSE and BSE on Dec 8, 2021.
Vivro Financial Services Pvt.Ltd. is the Lead Manager to the issue and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NXTDIGITAL Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Mon, Oct 25, 2021
Entitlement Ratio
:
Open Date
Mon, Nov 15, 2021
Close Date
Mon, Nov 29, 2021
| Particulars | For the year/period ended (Rs.in Millions) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | ||
| Total Assets | 18,780.67 | 19,640.25 | |
| Total Income | 10,084.50 | 11,620.99 | |
| Profit After Tax | (163.60) | 1,096.77 | |
NXTDIGITAL Limited is engaged in delivering digital content via cable networks as well as through Headend In the Sky (HITS). The company distributes its services through a network of Local Cable Operators (LCOs). The company provides digital content to subscribers either directly or through its affiliated LCOs. The company fundamentally follows a B2B2C business model. In this, the company structures its relationships with LCOs in such a way that this LCOs continue to be the principal contact with subscribers in the relevant local area.
The company's primary source of revenue for digital content services is subscription income from subscribers either directly or through LCOs, placement income received from broadcasters for placing their channels in preferred logical channel number line up on its platforms, incentives received from broadcasters for deeper penetration of their channels in company's customer base, and carriage income from carriage fees payable by broadcasters for carrying their channels.
As of September 30, 2021, the company operates its business across India through more than 10,000 LCOs. The company has connected Set-Top Boxes (STBs) to over 56 lakh subscribers to whom they offer over 600 channels on their cable platform. The company also offers 700 standard and high-definition channels on its HITS platform in India.
The Proceeds from the Issue will be utilized towards funding of the following objects:
1. Repayment and /or prepayment, of all or a portion of certain outstanding borrowings including interest availed by the company; and
2. General corporate purposes
[Dilip Davda] This being Hinduja group company, it is witnessing investors’ fancy. Pricing of rights issue appears reasonable though it has been incurring losses for the past 27 months and having a negative P/E. Cash surplus/risk seekers may consider an investment with a long term perspective. Read detail review...
NXTDIGITAL Limited
IN CENTRE, 49/50 MIDC,
12th Road, Andheri (East),
Mumbai – 400 093, Maharashtra,
Mumbai, Maharashtra, 400093
The NXTDIGITAL Rights Issue opens on Mon, Nov 15, 2021, and closes on Mon, Nov 29, 2021.
NXTDIGITAL Rights Issue Schedule
| Last Date for credit of Rights Entitlements | Fri, Nov 12, 2021 |
| Last Date for renunciation of Rights Entitlements | Wed, Nov 24, 2021 |
| Issue Opening Date | Mon, Nov 15, 2021 |
| Issue Closing Date | Mon, Nov 29, 2021 |
| Date of Allotment (on or about) | Sat, Dec 4, 2021 |
| Date of Credit (on or about) | Mon, Dec 6, 2021 |
| Date of Listing (on or about) | Wed, Dec 8, 2021 |
You can apply for NXTDIGITAL Rights Issue in two ways:
Steps to apply for NXTDIGITAL Rights Issue using Net Banking (ASBA)
Steps to apply for NXTDIGITAL Rights Issue using Registrar's website (R-WAP)
