Franklin Industries Limited Rights Issue: Important Points To Know

Franklin Industries Limited is coming with its rights issue in the coming week. The bid opens on May 24, 2024 and closes on June 11, 2024. The last date to buy shares is Friday, May 10, 2024. The record date of this new issue is Monday, May 13, 2024. The issue size is of 108, 450,000 equity shares amounting to Rs 38.83 crores. The issue price is set at Rs 3.58 per share, and the face value is at Rs 1 per share. This issue will allow existing shareholders to buy Franklin Industries equity shares at a lower price. Presently, Franklin Industries's share price is Rs 6.76 per share. The current market price is 50% higher than the issued price. The eligible shareholders are being offered three Rights Equity shares for every one fully paid up equity shares held on a May 13, 2024, record date. The payment terms are decided as the full amount of Rs 1 per share is payable on application. Through this rights issue, the company plans to raise Rs 38.83 crores. The registrar and lead managers for this rights issue have not yet been announced. 

About Franklin Industries Limited

Franklin Industries Limited was incorporated in February 1983 and engaged in the trading of agricultural commodities. These commodities include wheat, rice, maize, and different vegetables and fruits. The company also provides contract manufacturing services for agricultural products such as cucumber, onion and castor. Franklin Industries sources these products from manufacturers by paying an advance payment or according to advance terms, then selling to the network of distributors. Through the presence of a network, the company has developed a strong relationship with farmers, wholesalers, and retailers. Franklin Industries practices contract manufacturing by leasing agricultural land where they cultivate cucumbers, Onions and Castors. The company shares a part of the yield with farmers who work on a contractual basis on the leased land to support the local farmer's community. 

Objectives of Franklin Industries Rights Issue

The objective of this issue is to raise funds from the existing equity shareholders for business purposes. This issue will give priority to the existing shareholders to invest in the issue at a discounting price. However, other important objectives are not yet announced. 

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Financials Details of Franklin Industries Limited  (Amt in Rs Crores)

Franklin Industries Limited posted a revenue of Rs 20.52 crore and net profit of Rs 0.21 crore for the year ending on 31 March 2023. The company’s revenue increased by -20.14% and PAT shot up by -2973.71% between the FY ending on 31 March 2023 and 31 March 2022. 

Important Details for Franklin Industries Limited Rights Issue

Timetable of Franklin Industries Limited Rights Issue

How to Apply for Franklin Industries Limited Rights Issue?

Wait for the public issue to open for subscription, then click here to apply for the Franklin Industries Limited Rights Issue with Bigul.

How do you check the allotment status of the Franklin Industries Limited Rights issue?

The registrar for this upcoming rights issue is not yet announced. Once it gets announced, investors can check the allotment by visiting their website.

FAQs

1. What is the Franklin Industries Limited Rights Issue?

The issue size is of 108, 450,000 equity shares amounting to Rs 38.83 crores. The issue price is set at Rs 3.58 per share, and the face value is at Rs 1 per share. The eligible shareholders are being offered three Rights Equity shares for every one fully paid up equity shares held on a May 13, 2024, record date.

2. When does the Rights Issue open and close?

The bid opens on May 24, 2024 and closes on June 11, 2024. The last date to buy shares is Friday, May 10, 2024. The record date of this new issue is Monday, May 13, 2024. 

3. How can I apply for the Franklin Industries Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.

4. How can I check the allotment status of the Franklin Industries Limited Issue?

The registrar for this upcoming rights issue is not yet announced. Once it gets announced, investors can check the allotment by visiting their website.

5. What is the objective of Franklin Industries Limited Rights Issue?

The objective of this issue is to raise funds from the existing equity shareholders for business purposes. This issue will give priority to the existing shareholders to invest in the issue at a discounting price. However, other important objectives are not yet announced. 

6. What is the record date for the Franklin Industries Limited Rights Issue?

The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for May 13, 2024.

7. Where will the Franklin Industries Limited Right Issue be listed?

The Rights Issue will be listed on the BSE.

8. What is the entitlement ratio for the Franklin Industries Limited Right Issue? 

The entitlement ratio is set at three Rights equity Shares for every one fully paid-up equity shares held on record date May 13, 2024. 

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