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Savani Financials Ltd. Rights Issue (Savani Financials Limited Rights Issue 2024) Detail

May 2, 2024 - May 10, 2024
Savani Financials Ltd. Logo

Incorporated in December 1983, Savani Financials Limited is Non-Banking Financial Services Company that provides financial services.

Savani Financials Limited Rights Issue 2024 Detail

Issue Open May 2, 2024 - May 10, 2024
Security Name Savani Financials Ltd.
Issue Size (Shares) 28,285,714
Issue Size (Amount) ₹49.50 Crores
Issue Price ₹17.5 per share
Face Value ₹10 per share
Listing At BSE
Terms of Payment

Issue Price of Rs.17.50 is to be paid as Rs.14/- per share on Application and Rs.3.50 per share on One or more subsequent Calls

Entitlement 7 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date

Savani Financials Limited Rights Issue 2024 Issue Timetable

Last Date to buy sharesApril 3, 2024
Record Date April 4, 2024
Credit of Rights Entitlements
Bid/Offer Opens On May 2, 2024
Renunciation of Rights Entitlements May 7, 2024
Bid/Offer Closes On May 10, 2024
Deemed Date of Allotment
Credit Date
Listing Date

Company Financials

Savani Financials Ltd. Financial Information (Restated Standalone)

Savani Financials Ltd.'s revenue decreased by -2.63% and profit after tax (PAT) dropped by -587.42% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets2.132.192.18
Revenue0.110.110.13
Profit After Tax-0.070.020.05
Amount in ₹ Crore

Objects of the Issue:

The Net Proceeds from the Issue are proposed to be utilised by our Company for the following objects 

  1. To augment the capital base;
  2. Repay the Unsecured loan along with interest of Rs. 1.98 lakhs to the Director post the completion of the Rights issue, a sum estimated at as of Rs. 91.98 Lakhs.
  3. General Corporate Purposes

Savani Financials Limited Rights Issue 2024 Documents

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Company Contact Information

Savani Financials Ltd.
602, Samarth Vaibhav Co-op Hsg Society Ltd.,
, Off Link Road, Lokhandwala Complex, Andheri (W)
Mumbai-400 053

Phone: 022-69454100
Email: info@savanifinancials.co.in
Website: http://savanifinancials.co.in/

Savani Financials Limited Rights Issue 2024 Registrar

  1. Bigshare Services Pvt Ltd
    Phone: +91-22-6263 8200
    Email: rightsissue@bigshareonline.com
    Website: https://ipo.bigshareonline.com/ipo_status.html

Savani Financials Limited Rights Issue 2024 Lead Manager(s)

Savani Financials Limited Rights Issue 2024 FAQs

The Savani Financials Limited Rights Issue 2024 opens on May 2, 2024, and closes on May 10, 2024.

Savani Financials Limited Rights Issue 2024 Schedule

Last Date for credit of Rights Entitlements
Last Date for renunciation of Rights EntitlementsMay 7, 2024
Issue Opening DateMay 2, 2024
Issue Closing DateMay 10, 2024
Date of Allotment (on or about)
Date of Credit (on or about)
Date of Listing (on or about)

Savani Financials Limited Rights Issue 2024 price is set at ₹17.5 per share per equity share.

The eligible shareholders are being offered 7 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date (April 4, 2024).

The record date for the Savani Financials Limited Rights Issue 2024 is April 4, 2024.

The issue size of Savani Financials Limited Rights Issue 2024 is of 28,285,714 equity shares at ₹17.5 per share aggregating upto ₹49.50 Crores.

The Letter of Offer for Savani Financials Limited Rights Issue 2024 can be download here.

You can apply for Savani Financials Limited Rights Issue 2024 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Savani Financials Limited Rights Issue 2024 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Savani Financials Limited Rights Issue 2024 available on the list.
  4. Click the Apply button next to the Savani Financials Limited Rights Issue 2024.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Savani Financials Limited Rights Issue 2024 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Savani Financials Limited Rights Issue 2024 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

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