₹28.57 Crores | Listing at BSE | Tue, Jan 30, 2024 - Tue, Feb 20, 2024
Shree Ajit Pulp and Paper Limited Rights Issue comprises 0.3571 Cr equity shares aggregating to ₹28.57 Cr, offered at an issue price of ₹80 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Jan 18, 2024, with the Rights Issue being offered in the entitlement ratio of 2 : 3.
The term of payment is defined as following : 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.
The Rights Entitlements are expected to be credited to eligible demat accounts on [.]
The Rights Issue opens on Jan 30, 2024, and closes on Feb 20, 2024, with renunciation of Rights Entitlements permitted up to Feb 16, 2024.
The deemed date of allotment is Feb 28, 2024, following which the equity shares are expected to be credited to demat accounts on Mar 4, 2024 and listed at the BSE on Mar 5, 2024.
Vivro Financial Services Pvt.Ltd. is the Lead Manager to the issue and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Shree Ajit Pulp and Paper Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Jan 18, 2024
Entitlement Ratio
2 : 3
Open Date
Tue, Jan 30, 2024
Close Date
Tue, Feb 20, 2024
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.
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 | |||
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.
The company intend to utilise the gross proceeds raised through the Issue for the following objects:
[Dilip Davda] The company is a dividend paying and is engaged in fancies Kraft paper production and marketing. No doubt it marked de-growth it its top and bottom lines for the last 18 months’ performance, it will be soon back on track once it has working capital in its hand. RI is lucratively priced with around 65% discount to its last traded price. Investors should not miss this mini bonus like bet. Read detail review...
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 84,26,850 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Feb 20 2024 17:00:00 | 84,26,850 | 2.36x |
Shree Ajit Pulp and Paper Limited
Survey No. 239, Near Morai Railway Crossing,
Village Salvav, Via-Vapi,
Dist. Valsad,-396 191
Valsad, Gujarat, 396191
The Shree Ajit Pulp and Paper Rights Issue 2024 opens on Tue, Jan 30, 2024, and closes on Tue, Feb 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 | Fri, Feb 16, 2024 |
| Issue Opening Date | Tue, Jan 30, 2024 |
| Issue Closing Date | Tue, Feb 20, 2024 |
| Date of Allotment (on or about) | Wed, Feb 28, 2024 |
| Date of Credit (on or about) | Mon, Mar 4, 2024 |
| Date of Listing (on or about) | Tue, Mar 5, 2024 |
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)
Steps to apply for Shree Ajit Pulp and Paper Rights Issue 2024 using Registrar's website (R-WAP)
