₹48.60 Crores | Listing at BSE | Tue, Feb 6, 2024 - Wed, Feb 21, 2024
Yarn Syndicate Ltd. Rights Issue comprises 1.80 Cr equity shares aggregating to ₹48.60 Cr, offered at an issue price of ₹27 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Jan 24, 2024, with the Rights Issue being offered in the entitlement ratio of 24 : 5.
The term of payment is defined as following : Issue Price of Rs.27/- shall be payable by the eligible shareholders in the following manner: 1. Rs. 13.50 at the time of application and 2. Balance Rs. 13.50 in 1st and Final call, as determined by the Board in consultation with the Rights Issue Committee
The Rights Entitlements are expected to be credited to eligible demat accounts on Feb 28, 2024.
The Rights Issue opens on Feb 6, 2024, and closes on Feb 21, 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 Feb 29, 2024 and listed at the BSE on Mar 4, 2024.
Cameo Corporate Services Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Yarn Syndicate Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Wed, Jan 24, 2024
Entitlement Ratio
24 : 5
Open Date
Tue, Feb 6, 2024
Close Date
Wed, Feb 21, 2024
Issue Price of Rs.27/- shall be payable by the eligible shareholders in the following manner: 1. Rs. 13.50 at the time of application and 2. Balance Rs. 13.50 in 1st and Final call, as determined by the Board in consultation with the Rights Issue Committee
Yarn Syndicate Ltd.'s revenue decreased by -95.07% and profit after tax (PAT) dropped by -139.85% 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 | 0.18 | 0.45 | 0.36 |
| Revenue | 0.03 | 0.60 | 0.00 |
| Profit After Tax | -0.16 | 0.40 | 0.35 |
| Net Worth | |||
| Reserves and Surplus | -4.17 | -4.01 | -4.41 |
| Amount in ₹ Crore | |||
Incorporated in 1945, Yarn Syndicate Limited is a dealer of all types of Yarn. The company is an exporter of cotton yarn, polyester cotton yarn, polyester viscose yarn, flax yarn, jute yarn, bamboo yarn, organic yarn.
The company's product portfolio includes cotton yarn, synthetic yarn, blended yarn, heather yarn, knitted fabric and woven fabric.
The company is ISO 9001:2008 certified for Quality Management System.
The Company exports various types of yarn, including 100% cotton, polyester, and viscose yarn, as well as jute yarn, flax yarn, and raw cotton.
The company intends to utilize the proceeds raised through the Issue ("Gross Proceeds") after deducting the Issue related expenses ("Net Proceeds") for the following objects
[Dilip Davda] The company is currently under new management and they are trying to revive it, but the way it has functioned so far and RI at greedy price needs better understanding. Though the RI is having a face value of Rs. 10, it is taken into account as Rs. 5 paid-up value and its post-RI capital data needs clarification. The company has been incurring losses for the reported periods and has no business related income, only other income is generated and that too on a minuscule level. There is no harm in skipping this pricey RI. Read detail review...
Yarn Syndicate Rights Issue 2024 got oversubscribed by 1.12 times by the end of the bidding period with total bid quantity received by BSE of 2,01,11,092 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Feb 21 2024 17:00:00 | 2,01,11,092 | 1.12x |
Yarn Syndicate Ltd.
86/2/4, S N Banerjee Road
1st Floor, Flat No. 2
Kolkata - 700 014
Kolkata, West Bengal, 700014
The Yarn Syndicate Rights Issue 2024 opens on Tue, Feb 6, 2024, and closes on Wed, Feb 21, 2024.
Yarn Syndicate Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Jan 30, 2024 |
| Last Date for renunciation of Rights Entitlements | Fri, Feb 16, 2024 |
| Issue Opening Date | Tue, Feb 6, 2024 |
| Issue Closing Date | Wed, Feb 21, 2024 |
| Date of Allotment (on or about) | Wed, Feb 28, 2024 |
| Date of Credit (on or about) | Thu, Feb 29, 2024 |
| Date of Listing (on or about) | Mon, Mar 4, 2024 |
You can apply for Yarn Syndicate Rights Issue 2024 in two ways:
Steps to apply for Yarn Syndicate Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Yarn Syndicate Rights Issue 2024 using Registrar's website (R-WAP)
