₹48.48 Crores | Listing at BSE | Fri, Jul 21, 2023 - Wed, Aug 2, 2023
Seacoast Shipping Services Ltd Rights Issue comprises 20.20 Cr equity shares aggregating to ₹48.48 Cr, offered at an issue price of ₹2.4 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jul 13, 2023, with the Rights Issue being offered in the entitlement ratio of 3 : 5.
The term of payment is defined as following : The Issue Price of Rs. 2.40/- per Equity Share shall be payable at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Aug 9, 2023.
The Rights Issue opens on Jul 21, 2023, and closes on Aug 2, 2023, with renunciation of Rights Entitlements permitted up to Jul 27, 2023.
The deemed date of allotment is Aug 9, 2023, following which the equity shares are expected to be credited to demat accounts on Aug 10, 2023 and listed at the BSE on Aug 14, 2023.
Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Seacoast Shipping Services Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Jul 13, 2023
Entitlement Ratio
3 : 5
Open Date
Fri, Jul 21, 2023
Close Date
Wed, Aug 2, 2023
The Issue Price of Rs. 2.40/- per Equity Share shall be payable at the time of application.
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 148.75 | 243.16 | 11.10 |
| 31-Mar-22 | 247.62 | 127.81 | 2.55 |
| Amount in ₹ Crore | |||
Incorporated in 1982, Seacoast Shipping Services Limited is engaged in offering logistics services to exporters and importers. They initially started as freight forwarders and shipping agents in the year 2005.
The offerings of the company revolves around Clearing & forwarding of export containers, FCL & Break-bulk, and Freight Broking, and having contracts with Major Shipping Companies.
Seacoast Shipping Services is one largest freight forwarders in Gujarat. The services offered by the company include-
The Company proposes to utilize the net proceeds from the issue towards funding the following objects:
[Dilip Davda] The company is engaged in Shipping logistics and Agri-products trading. It is missing the info on its segment-wise revenue details. It has paid penalties for non-compliance matters for five times since September 2021 (refer to pages 30-31 of the offer documents). Even this offer document has suppressed much information relevant to investors. There is no harm in skipping this RI – a “High Risk / Low Return” bet. Read detail review...
Seacoast Shipping Services Ltd
D-1202, Swati Crimson and Clover,
Shilaj Circle, Sardar Patel Ring Road,
Thaltej, Ahmedabad -380054
Ahmedabad, Gujarat, 380054
The Seacoast Shipping Rights Issue 2023 opens on Fri, Jul 21, 2023, and closes on Wed, Aug 2, 2023.
Seacoast Shipping Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Thu, Jul 20, 2023 |
| Last Date for renunciation of Rights Entitlements | Thu, Jul 27, 2023 |
| Issue Opening Date | Fri, Jul 21, 2023 |
| Issue Closing Date | Wed, Aug 2, 2023 |
| Date of Allotment (on or about) | Wed, Aug 9, 2023 |
| Date of Credit (on or about) | Thu, Aug 10, 2023 |
| Date of Listing (on or about) | Mon, Aug 14, 2023 |
You can apply for Seacoast Shipping Rights Issue 2023 in two ways:
Steps to apply for Seacoast Shipping Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for Seacoast Shipping Rights Issue 2023 using Registrar's website (R-WAP)
