₹45.92 Crores | Listing at BSE, NSE | Mon, Sep 23, 2024 - Fri, Oct 4, 2024
Synergy Green Industries Ltd Rights Issue comprises 0.1413 Cr equity shares aggregating to ₹45.92 Cr, offered at an issue price of ₹325 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Sep 11, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 10.
The term of payment is defined as following : The entire amount of the Issue Price of Rs. 325 per Rights Equity Share shall be payable at the time of Application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Oct 11, 2024.
The Rights Issue opens on Sep 23, 2024, and closes on Oct 4, 2024, with renunciation of Rights Entitlements permitted up to Sep 30, 2024.
The deemed date of allotment is Oct 11, 2024, following which the equity shares are expected to be credited to demat accounts on Oct 15, 2024 and listed at the NSE and the BSE on Oct 21, 2024.
MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Synergy Green Industries Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Wed, Sep 11, 2024
Entitlement Ratio
1 : 10
Open Date
Mon, Sep 23, 2024
Close Date
Fri, Oct 4, 2024
The entire amount of the Issue Price of Rs. 325 per Rights Equity Share shall be payable at the time of Application.
Synergy Green Industries Ltd's revenue increased by 13% and profit after tax (PAT) rose by 1233% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 198 | 181.77 |
| Revenue | 328.13 | 290.42 |
| Profit After Tax | 11.56 | 0.87 |
| Net Worth | 46.69 | 35.11 |
| Reserves and Surplus | 20.98 | |
| Total Borrowing | 69.22 | 72.95 |
| Amount in ₹ Crore | ||
Synergy Green Industries Limited was established in 2011 and is engaged in the manufacture of large format critical castings for the wind turbine industry, wind gearboxes and general engineering applications such as mining, plastic injection moulding and pumps.
Synergy Green Industries is the only company in India to have installed a semi-automated mould preparation line and delivers excellent quality with highest productivity. The company manufactures ductile iron, grey iron and steel castings in a weight range of 3 MT to 30 MT single piece.
The company's customer list includes the world’s top 10 wind turbine OEMs such as Vestas, Siemens Gamesa, GE Renewable, Nordex and Senvion, as well as wind gearbox customers such as ZF and Flender.
The company proposes to utilize the net proceeds from the issue towards funding the following objects:
[Dilip Davda] The company is in the business of manufacturing critical large size castings and other related products for the wind turbine industry. It posted growth in its top lines for the reported periods, but marked inconsistency in its bottom lines. The boosted bottom line for FY24 raises eyebrows and concern over its sustainability. The issue appears fully priced. Investors may park moderate funds for long term. Read detail review...
Synergy Green Industries Rights Issue 2024 got oversubscribed by 20.74 times by the end of the bidding period with total bid quantity received by BSE and NSE of 2,93,06,147 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
Oct 04 2024 17:00:03 | 2,88,64,225 | 4,41,922 | 28,23,769 | 2.00x |
Synergy Green Industries Ltd
392,
E Ward Shahupuri,
Kolhapur - 416001
Kolhapur, Maharashtra, 416001
The Synergy Green Industries Rights Issue 2024 opens on Mon, Sep 23, 2024, and closes on Fri, Oct 4, 2024.
Synergy Green Industries Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Mon, Sep 16, 2024 |
| Last Date for renunciation of Rights Entitlements | Mon, Sep 30, 2024 |
| Issue Opening Date | Mon, Sep 23, 2024 |
| Issue Closing Date | Fri, Oct 4, 2024 |
| Date of Allotment (on or about) | Fri, Oct 11, 2024 |
| Date of Credit (on or about) | Tue, Oct 15, 2024 |
| Date of Listing (on or about) | Mon, Oct 21, 2024 |
You can apply for Synergy Green Industries Rights Issue 2024 in two ways:
Steps to apply for Synergy Green Industries Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Synergy Green Industries Rights Issue 2024 using Registrar's website (R-WAP)
