Diligent Industries Rights Issue: Important Details to Check

  • 21-Oct-2024
  • 2 mins read
Diligent Industries Rights Issue, share prices

Diligent Industries Rights Issue: Important Details to Check

Diligent Industries Limited is offering a rights issue for its existing shareholders. The company issued a total of 137,232,000 Equity shares with a decided issue price of Rs 3.6 per share, a total amounting to Rs 49.40 crores. 

Meanwhile, the face value is reported as Rs 1 per share. The last date to purchase the shares of Diligent Industries to get eligible for this rights issue is October 23, 2024. It is important to note that the record date for eligibility is October 24, 2024. 

However, Venture Capital and Corporate Investments Private Limited is appointed as the registrar for this rights issue. If we look at the entitlement ratio, it is mentioned that 6 Rights Equity Share(s) is used for every 5 fully paid-up Equity Shares held on Record Date. Bidding for this rights issue will be opening from November 11, 2024 till November 25, 2024.

Also Read | Purple Finance Rights Issue: Important Details to Check

Diligent Industries Limited: About the Company

Diligent Industries Limited is a leading company formed in 1995 in India's edible oils sector. It deals with the manufacturing and processing as well as trading of different edible oils, which include Rice Bran Oil and Cotton Oil. Besides them, cattle feed and agriculture products like maize and paddy are also included in the company's portfolio. With a highly advanced processing plant at West Godavari, Andhra Pradesh, the company is in a place for growth as it has recently entered into refined edible oils. Diligent Industries is also listed on the Bombay Stock Exchange (BSE), which is indicative of the strength of market presence. A faithful stewardship under the leadership of Mr. Bhanu Prakash Vankineni strides the company ahead in innovation and continuous improvement from the robust food industry.

Diligent Industries Limited: Objectives

The company will utilize the funds raised from the IPO fresh issue for three key purposes: adjusting unsecured loans against the rights entitlement of the promoters, meeting working capital requirements, and funding for general corporate purposes.

Important Dates for Diligent Industries Rights Issue

Issue Open

November 11, 2024 - November 25, 2024

Security Name

Diligent Industries Ltd.

Issue Size (Shares)

137,232,000

Issue Size (Amount)

Rs 49.40 Crores

Issue Price

Rs 3.6 per share

Face Value

Rs 1 per share

Listing At

BSE

Terms of Payment

The full amount of the Issue Price being Rs 3.60 will be payable on application.

Entitlement

6 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date

Timetable of Diligent Industries Rights Issue

Last Date to buy shares

October 23, 2024

Record Date

October 24, 2024

Credit of Rights Entitlements

Yet to be Announced

Bid/Offer Opens On

November 11, 2024

Renunciation of Rights Entitlements

November 18, 2024

Bid/Offer Closes On

November 25, 2024

Deemed Date of Allotment

Yet to be Announced

Credit Date

Yet to be Announced

Listing Date

Yet to be Announced

Financial Performance of Diligent Industries Limited (Amt in Rs Crore)

For the period ending March 31, 2024, the company saw a 27.98% increase in assets, rising from Rs 90.29 crore to Rs 115.55 crore. Revenue fall by 0.90%, from Rs 12.51 crore to Rs 12.40 crore. Total borrowings increased by 45.41%, increasing from Rs 4.47 crore to Rs 6.50 crore.

Period Ended

31 Mar 2024

31 Mar 2023

Assets

115.55

90.29

Revenue

123.95

125.08

Profit After Tax

2.03

2.16

Reserves and Surplus

6.5

4.47


Lead manager(s), Registrar of Rights Issue & Letter of Offer

The firm has not yet disclosed the name of the appointed lead manager for the rights issue. On the other hand, Venture Capital and Corporate Investments Private Limited has been appointed as a registrar for this rights issue. You can check your allotment status here. To read the letter of offer in detail, click here.
 

FAQs


1. What are the important dates for Diligent Industries's rights issue?
The important dates include the opening & closing dates of the rights issue November 11, 2024, and November 25, 2024, respectively.
2. What is the last date for buying shares to get eligible for this rights issue?
To get eligible for the rights issue of Diligent Industries Limited, an investor can buy its shares till October 23, 2024.
3. What is the record date for the Diligent Industries Rights Issue?
The record date, which is the date to determine the shareholder's eligibility for the Rights Issue is October 24, 2024.
4. How can I apply for the Diligent Industries Limited Rights Issue?
You can apply for Diligent Industries Rights Issues 2024 in two ways one is Net Banking (ASBA) and the other is by visiting Registrar's Website (R-WAP Facility).
5. How can I check the allotment status of the Diligent Industries Rights Issue?
The registrar for this rights issue is Venture Capital and Corporate Investments Private Limited. You can check your allotment status here.
6. From where can I get the Letter of Offer for this Rights Issue?
You can download the Letter of Offer by visiting here.
7. Where will the Diligent Industries Rights Issue be listed?
The Rights Issue will be listed on the BSE.
8. What is the entitlement ratio for the Diligent Industries Limited Rights Issue?
The entitlement ratio is set at 6 Rights Equity Share (s) for every 5 fully paid-up equity share (s) held on the record date.

Also Read | What is a Rights Issue?


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