₹5.76 Crores | Listing at BSE | Thu, Dec 29, 2022 - Thu, Jan 12, 2023
Thambbi Modern Spinning Mills Ltd. Rights Issue comprises 0.5763 Cr equity shares aggregating to ₹5.76 Cr, offered at an issue price of ₹10 per share with a face value of ₹10 per share.
The record date for determining eligible shareholders is Dec 16, 2022.
The term of payment is defined as following :
The Rights Entitlements are expected to be credited to eligible demat accounts on Jan 20, 2023.
The Rights Issue opens on Dec 29, 2022, and closes on Jan 12, 2023, with renunciation of Rights Entitlements permitted up to Jan 6, 2023.
The deemed date of allotment is Jan 20, 2023, following which the equity shares are expected to be credited to demat accounts on Jan 24, 2023 and listed at the BSE on Jan 25, 2023.
Cameo Corporate Services Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Thambbi Modern Spinning Mills Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Dec 16, 2022
Entitlement Ratio
:
Open Date
Thu, Dec 29, 2022
Close Date
Thu, Jan 12, 2023
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 16.12 | 1.93 | -2.18 |
| 31-Mar-21 | 15.64 | 2.48 | -1.65 |
| 31-Mar-22 | 14.64 | 2.23 | -5.1 |
| Amount in ₹ Crore | |||
Thambbi Modern Spinning Mills Limited is in the business of spinning and weaving different types of fibres and yarns. The Company also involves in the trading of cotton and yarns.
The Textiles manufacturing activity of the company was closed in March'2014. The company has leased out its buildings to generate income.
The company's objective is to:
To comb, prepare, spin and deal in cotton, waste cotton, wool, silk, artificial silk, staple fibre, rayon, flax, hemp, jute and other fibrous substance; to weave or otherwise manufacture cloth, silk, linen, mercerised yarn and other goods and fabrics, whether textiles, felted, netted or looped and sell any such goods manufactured whether in wholesale or in retail.
To carry on the business of buying and selling cotton yarn, cotton, waste cotton, silk, artificial silk, staple fibre, rayon, flax, hemp, jute, worsted and woollen merchants; of yarn merchants and buyers, sellers, dealers, commission agents, brokers, exporters and importers, whether in wholesale or retail of cotton, cotton yarn, waste cotton and cloth, linen, silk, artificial silk, staple fibre, mercerised yarn, yarn, flax, hemp, jute, wool and other fibrous substances.
To purchase, sell, develop, maintain, take in exchange, or on a lease, hire or otherwise acquire, whether for investment or sale or working the same any real or personal estate including lands, mines, business, buildings, factories, commercial property.
The company proposes to utilize the net proceeds from the issue towards funding the following objects:
1) Part repayment or prepayment of unsecured loans availed by our Company from Ramasamy Udayar Jagadeesan, being a Promoter of the Company.
2) General Corporate Purposes
[Dilip Davda] TMSML is engaged in leasing and constructing of properties but has no stake in the textile business as appears in its name. It has been incurring losses and has a negative net worth. Currently, the counter is under GSM – Stage 4. Around 75% promoter’s holding is the only attraction. There is no harm in skipping this at par RI considering the negativity in its performances so far. Read detail review...
Thambbi Modern Spinning Mills Ltd.
Omalur Road,
Jagir Ammapalayam,
Salem - 636302
Salem, Tamil Nadu, 636302
The Thambbi Modern Spinning Mills Rights Issue 2022 opens on Thu, Dec 29, 2022, and closes on Thu, Jan 12, 2023.
Thambbi Modern Spinning Mills Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | Thu, Dec 22, 2022 |
| Last Date for renunciation of Rights Entitlements | Fri, Jan 6, 2023 |
| Issue Opening Date | Thu, Dec 29, 2022 |
| Issue Closing Date | Thu, Jan 12, 2023 |
| Date of Allotment (on or about) | Fri, Jan 20, 2023 |
| Date of Credit (on or about) | Tue, Jan 24, 2023 |
| Date of Listing (on or about) | Wed, Jan 25, 2023 |
You can apply for Thambbi Modern Spinning Mills Rights Issue 2022 in two ways:
Steps to apply for Thambbi Modern Spinning Mills Rights Issue 2022 using Net Banking (ASBA)
Steps to apply for Thambbi Modern Spinning Mills Rights Issue 2022 using Registrar's website (R-WAP)
