₹8.40 Crores | Listing at BSE | Thu, Sep 26, 2024 - Thu, Oct 10, 2024
Rapid Investments Ltd. Rights Issue comprises 0.0840 Cr equity shares aggregating to ₹8.40 Cr, offered at an issue price of ₹100 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Sep 18, 2024, with the Rights Issue being offered in the entitlement ratio of 25 : 39.
The term of payment is defined as following : The entire amount of Rs 100 (including a premium of Rs 90) is payable at the time of application
The Rights Entitlements are expected to be credited to eligible demat accounts on Sep 16, 2024.
The Rights Issue opens on Sep 26, 2024, and closes on Oct 10, 2024, with renunciation of Rights Entitlements permitted up to Oct 4, 2024.
The deemed date of allotment is Sep 16, 2024, following which the equity shares are expected to be credited to demat accounts on Sep 18, 2024 and listed at the BSE on Sep 18, 2024.
MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Rapid Investments Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Wed, Sep 18, 2024
Entitlement Ratio
25 : 39
Open Date
Thu, Sep 26, 2024
Close Date
Thu, Oct 10, 2024
The entire amount of Rs 100 (including a premium of Rs 90) is payable at the time of application
Rapid Investments Ltd.'s revenue increased by 440% and profit after tax (PAT) rose by 489% 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 | 9.99 | 9.31 | 2.52 |
| Revenue | 1.95 | 0.36 | 0.5 |
| Profit After Tax | 0.2 | 0.03 | 0 |
| Amount in ₹ Crore | |||
Incorporated in June 1978, Rapid Investments Limited is a non-banking financial company registered with the RBI as a systemically important non-deposit accepting NBFC. It provides loans for home construction/purchase and MSME finance.
The company currently operates in Rajasthan, with over 10 branches, and has ambitious branch expansion and loan growth plans in the State.
The company offers mortgage loans against the borrower's primary residence for home construction, extension/improvement, and MSME finance.
As of December 31, 2023, the company had 18 full-time employees.
The Company intends to utilise the net proceeds from the Issue (the “Net Proceeds”) towards the funding of the following objects:
[Dilip Davda] The company is in the business of financial services and has posted minuscule financial performance for the reported periods. The counter is dormant as it has not witnessed any trades post September 09, 2024. The issue appears aggressively priced considering its negligible earnings. There is no harm in skipping this exorbitantly priced offer that can be termed as “High Risk/No Return” bet. Read detail review...
Rapid Investments Rights Issue 2024 got oversubscribed by 1.15 times by the end of the bidding period with total bid quantity received by BSE of 9,66,473 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Oct 10 2024 17:00:00 | 9,66,473 | 1.15x |
Rapid Investments Ltd.
107, Turf Estate
Off Dr E Moses Road, Shakti Mill Lane
Mahalaxmi, Mumbai 400011
Mumbai, Maharashtra, 400011
The Rapid Investments Rights Issue 2024 opens on Thu, Sep 26, 2024, and closes on Thu, Oct 10, 2024.
Rapid Investments Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Sep 24, 2024 |
| Last Date for renunciation of Rights Entitlements | Fri, Oct 4, 2024 |
| Issue Opening Date | Thu, Sep 26, 2024 |
| Issue Closing Date | Thu, Oct 10, 2024 |
| Date of Allotment (on or about) | Mon, Sep 16, 2024 |
| Date of Credit (on or about) | Wed, Sep 18, 2024 |
| Date of Listing (on or about) | Wed, Sep 18, 2024 |
You can apply for Rapid Investments Rights Issue 2024 in two ways:
Steps to apply for Rapid Investments Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Rapid Investments Rights Issue 2024 using Registrar's website (R-WAP)
