₹49.50 Crores | Listing at BSE | Thu, May 2, 2024 - Fri, May 10, 2024
Savani Financials Ltd. Rights Issue comprises 2.83 Cr equity shares aggregating to ₹49.50 Cr, offered at an issue price of ₹17.5 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Apr 4, 2024, with the Rights Issue being offered in the entitlement ratio of 7 : 1.
The term of payment is defined as following : 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
The Rights Entitlements are expected to be credited to eligible demat accounts on May 18, 2024.
The Rights Issue opens on May 2, 2024, and closes on May 10, 2024, with renunciation of Rights Entitlements permitted up to May 7, 2024.
The deemed date of allotment is May 18, 2024, following which the equity shares are expected to be credited to demat accounts on May 22, 2024 and listed at the BSE on May 24, 2024.
Bigshare Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Savani Financials Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Apr 4, 2024
Entitlement Ratio
7 : 1
Open Date
Thu, May 2, 2024
Close Date
Fri, May 10, 2024
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
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 Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2.14 | 2.13 | 2.19 | 2.18 |
| Revenue | 0.09 | 0.11 | 0.11 | 0.13 |
| Profit After Tax | -1.12 | -0.07 | 0.02 | 0.05 |
| Amount in ₹ Crore | ||||
Incorporated in December 1983, Savani Financials Limited is Non-Banking Financial Services Company that provides financial services.
The Net Proceeds from the Issue are proposed to be utilised by our Company for the following objects
[Dilip Davda] The company that has yet to start employment and its financial services, it is coming out with a RI at a hefty price with no supportive financial performance. Eight-fold hike in post-RI equity raise concern over its servicing going forward. The counter currently has restricted trades on account of GSM: Stage 4. Despite all these, the company has been permitted to float RI. Just stay away from such pricey bet. Read detail review...
Savani Financials Limited Rights Issue 2024 got oversubscribed by 1.16 times by the end of the bidding period with total bid quantity received by BSE of 3,27,22,801 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
May 10 2024 17:00:00 | 3,27,22,801 | 1.16x |
Savani Financials Ltd.
602, Samarth Vaibhav Co-op Hsg Society Ltd.,
, Off Link Road, Lokhandwala Complex, Andheri (W)
Mumbai-400 053
Mumbai, Maharashtra, 400053
The Savani Financials Limited Rights Issue 2024 opens on Thu, May 2, 2024, and closes on Fri, May 10, 2024.
Savani Financials Limited Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Apr 30, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, May 7, 2024 |
| Issue Opening Date | Thu, May 2, 2024 |
| Issue Closing Date | Fri, May 10, 2024 |
| Date of Allotment (on or about) | Sat, May 18, 2024 |
| Date of Credit (on or about) | Wed, May 22, 2024 |
| Date of Listing (on or about) | Fri, May 24, 2024 |
You can apply for Savani Financials Limited Rights Issue 2024 in two ways:
Steps to apply for Savani Financials Limited Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Savani Financials Limited Rights Issue 2024 using Registrar's website (R-WAP)
