₹44.87 Crores | Listing at BSE | Mon, Jun 24, 2024 - Tue, Jul 23, 2024
Spright Agro Limited Rights Issue comprises 3.35 Cr equity shares aggregating to ₹44.87 Cr, offered at an issue price of ₹13.4 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jun 7, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 15.
The term of payment is defined as following : The Issue Price of ₹ 13.40/- per Equity Share shall be payable at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 18, 2024.
The Rights Issue opens on Jun 24, 2024, and closes on Jul 23, 2024, with renunciation of Rights Entitlements permitted up to Jul 16, 2024.
The deemed date of allotment is Jul 18, 2024, following which the equity shares are expected to be credited to demat accounts on Jul 30, 2024 and listed at the BSE on Jul 30, 2024.
Skyline Financial Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Spright Agro Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Jun 7, 2024
Entitlement Ratio
1 : 15
Open Date
Mon, Jun 24, 2024
Close Date
Tue, Jul 23, 2024
The Issue Price of ₹ 13.40/- per Equity Share shall be payable at the time of application.
Spright Agro Limited's revenue increased by 842.13% and profit after tax (PAT) rose by 113924.42% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 72.59 | 7.70 | 11.27 |
| Profit After Tax | 11.62 | 0.01 | 0.01 |
| Amount in ₹ Crore | |||
Founded in 1994, Spright Agro Limited, formerly known as Tine Agro Limited, develops agricultural and forestry operations.
The company plants, grows, cultivates, produces and breeds various agricultural and forestry crops, horticultural crops, greenhouses, net houses, medicinal and aromatic plants in owned and/or leased farms and operates as a manufacturer, importer and exporter, wholesaler, retailer and trader of all types of agricultural and other commodities.
The Company proposes to utilize the net proceeds from the issue towards funding the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. Based on its recent financial performance the issue is aggressively priced. Though it appears an attractive offer compared to its last traded price, it is a pure case of manipulation in market price to tempt investors. There is no promoter’s holding in the company. There is no harm in skipping this “high-risk/Low Return” bet though it is appearing tempting, based on its last traded price. Read detail review...
Spright Agro Rights Issue 2024 got oversubscribed by 1.16 times by the end of the bidding period with total bid quantity received by BSE of 3,87,59,398 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Jul 23 2024 17:00:00 | 3,87,59,398 | 1.16x |
Spright Agro Limited
Office No 1216 Shilp Epitom Rajpath,
Rangoli Road Off Sindhu Bhavan Road,
Bodakdev, Ahmedabad- 380054
Ahmedabad, Gujarat, 380054
Skyline Financial Services Pvt.Ltd.
The Spright Agro Rights Issue 2024 opens on Mon, Jun 24, 2024, and closes on Tue, Jul 23, 2024.
Spright Agro Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Fri, Jun 21, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Jul 16, 2024 |
| Issue Opening Date | Mon, Jun 24, 2024 |
| Issue Closing Date | Tue, Jul 23, 2024 |
| Date of Allotment (on or about) | Thu, Jul 18, 2024 |
| Date of Credit (on or about) | Tue, Jul 30, 2024 |
| Date of Listing (on or about) | Tue, Jul 30, 2024 |
You can apply for Spright Agro Rights Issue 2024 in two ways:
Steps to apply for Spright Agro Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Spright Agro Rights Issue 2024 using Registrar's website (R-WAP)
