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Shree Ajit Pulp and Paper Limited was incorporated in March 1995 and is engaged in the manufacture of high quality kraft paper. The company produces over 108000 tons of kraft paper/ testliner/ multilayer testliner/ fluting medium paper annually.
The company manufactures a wide range of export quality kraft paper with a GSM range of 80 GSM to 300 GSM and a BF range of 20 BF to 35 BF. The kraft paper is available in two shades: natural shade kraft paper and golden shade kraft paper (Ajit Gold Shade). The company's product is mainly used for the production of packaging boxes, cartons, paper bags and other related products. All products are made from 100% recycled materials.
The Company has two manufacturing units, Unit - I and Unit - II, located at Survey No. 239, village Salvav, Morai near Morai Railway Crossing, Vapi, Valsad with an installed capacity of 120,000 MTPA and Plot No. 1 and 1/B, Phase I, GIDC, Vapi, respectively, with an installed capacity of 82,500 MTPA. Manufacturing Unit II is a newly constructed plant which commenced commercial production on July 17, 2023.
As on November 30, 2023, the company employed 213 people.
| Issue Open | January 30, 2024 - February 20, 2024 |
| Security Name | Shree Ajit Pulp and Paper Limited |
| Issue Size (Shares) | 3,571,133 |
| Issue Size (Amount) | ₹28.57 Crores |
| Issue Price | ₹80 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.80/- to be paid as Rs.48/- per share on Application and Rs.32/- per share on First and Final Call. |
| Entitlement | 2 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
| Last Date to buy shares | January 17, 2024 |
| Record Date | January 18, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | January 30, 2024 |
| Renunciation of Rights Entitlements | February 16, 2024 |
| Bid/Offer Closes On | February 20, 2024 |
| Deemed Date of Allotment | February 28, 2024 |
| Credit Date | March 4, 2024 |
| Listing Date | March 5, 2024 |
Shree Ajit Pulp and Paper Limited's revenue decreased by -11.19% and profit after tax (PAT) dropped by -4.27% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 428.69 | 281.74 | 244.80 |
| Revenue | 372.29 | 419.21 | 267.19 |
| Profit After Tax | 20.70 | 21.62 | 24.00 |
| Amount in ₹ Crore | |||
The company intend to utilise the gross proceeds raised through the Issue for the following objects:
Shree Ajit Pulp and Paper Rights Issue 2024 got oversubscribed by 2.36 times by the end of the bidding period with total bid quantity received by BSE of 8,426,850 shares.
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Shree Ajit Pulp and Paper Limited
Survey No. 239, Near Morai Railway Crossing,
Village Salvav, Via-Vapi,
Dist. Valsad,-396 191
Phone: +91 260 6635700
Email: shreeajit@shreeajit.com
Website: https://www.shreeajit.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ajitP.rightsissue@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
The Shree Ajit Pulp and Paper Rights Issue 2024 opens on January 30, 2024, and closes on February 20, 2024.
Shree Ajit Pulp and Paper Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | |
| Last Date for renunciation of Rights Entitlements | February 16, 2024 |
| Issue Opening Date | January 30, 2024 |
| Issue Closing Date | February 20, 2024 |
| Date of Allotment (on or about) | February 28, 2024 |
| Date of Credit (on or about) | March 4, 2024 |
| Date of Listing (on or about) | March 5, 2024 |
Shree Ajit Pulp and Paper Rights Issue 2024 price is set at ₹80 per share per equity share.
The eligible shareholders are being offered 2 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date (January 18, 2024).
The record date for the Shree Ajit Pulp and Paper Rights Issue 2024 is January 18, 2024.
The issue size of Shree Ajit Pulp and Paper Rights Issue 2024 is of 3,571,133 equity shares at ₹80 per share aggregating upto ₹28.57 Crores.
The Letter of Offer for Shree Ajit Pulp and Paper Rights Issue 2024 can be download here.
You can apply for Shree Ajit Pulp and Paper Rights Issue 2024 in two ways:
Steps to apply for Shree Ajit Pulp and Paper Rights Issue 2024 using Net Banking (ASBA)
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 Shree Ajit Pulp and Paper Rights Issue 2024 using Registrar's website (R-WAP)
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