₹49.74 Crores | Listing at BSE | Thu, Jan 12, 2023 - Fri, Feb 10, 2023
Visagar Financial Services Limited Rights Issue comprises 49.74 Cr equity shares aggregating to ₹49.74 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholders is Dec 30, 2022.
As per the terms of payment, ₹1 per share payable in full at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jan 11, 2023.
The Rights Issue opens on Jan 12, 2023 and closes on Feb 10, 2023.
The deemed date of allotment is Feb 15, 2023, following which the equity shares are expected to be credited to demat accounts on Feb 16, 2023 and listed on the BSE on Mar 1, 2023.
Adroit Corporate Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Visagar Financial Services Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Dec 30, 2022
Entitlement Ratio
:
Open Date
Thu, Jan 12, 2023
Close Date
Fri, Feb 10, 2023
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-21 | 66.58 | -0.35 | 11.71 | 2.3 |
| 31-Mar-22 | 16.82 | 0.24 | 11.95 | 1.62 |
| 30-Sep-22 | 23.31 | -3.06 | 8.88 | 14.6 |
| Amount in ₹ Crore | ||||
Incorporated in 1994, Visagar Financial Services Limited is a Non-Banking Financial Company (NBFC) and is registered with RBI to carry out its operations. The Company is a non-deposit taking Non-Banking Financial Company (NBFC-Non-Systematically Important NonDeposit Taking Company categorized as Investment and Credit Company i.e. ICC).
The portfolio of Visagar Financial Services is broadly categorized into
The operations of Visagar Financial Services broadly include investing in securities of listed and unlisted companies. They precisely considered factors like opportunities, and market conditions; both long-term and short-term while investing. Visagar Financial Services has diversified its investments in a variety of sectors. They generate maximum revenue from the sale of shares.
The company's portfolio also includes providing secured and unsecured loans based on the client's risk profiles.
The Company intends to utilize the proceeds of the Issue towards the following objects:
[Dilip Davda] The company has been in the financial services/investment business and has posted inconsistency in its performance for the reported periods. The promoter’s holding is just 5.34% which raises major concern. Though the RI is at a par value, the sudden boost in paid-up equity capital may face servicing issues. The is no harm in ignoring this RI as its high risk/low-return bet. Read detail review...
Visagar Financial Services Limited
907-908, Dev Plaza, 9th Floor,
S.V. Road, Andheri (West),
Mumbai - 400 058
Mumbai, Maharashtra, 400058
The Visagar Financial Services Rights Issue 2022 opens on Thu, Jan 12, 2023, and closes on Fri, Feb 10, 2023.
Visagar Financial Services Rights Issue 2022 Schedule
| Last Date for credit of Rights Entitlements | Wed, Jan 11, 2023 |
| Last Date for renunciation of Rights Entitlements | Wed, Jan 25, 2023 |
| Issue Opening Date | Thu, Jan 12, 2023 |
| Issue Closing Date | Fri, Feb 10, 2023 |
| Date of Allotment (on or about) | Wed, Feb 15, 2023 |
| Date of Credit (on or about) | Thu, Feb 16, 2023 |
| Date of Listing (on or about) | Wed, Mar 1, 2023 |
You can apply for Visagar Financial Services Rights Issue 2022 in two ways:
Steps to apply for Visagar Financial Services Rights Issue 2022 using Net Banking (ASBA)
Steps to apply for Visagar Financial Services Rights Issue 2022 using Registrar's website (R-WAP)
