Mitcon Consultancy & Engineering Limited Rights Issue: All You Need To Know

Mitcon Consultancy & Engineering Limited is coming up with its rights issue this coming week. The bid opens on June 28, 2024 and closes on July 26, 2024. The last Date to buy shares is Wednesday, June 19, 2024. The record date of this new issue is Thursday, June 20, 2024. The issue size is of 4,241,321 equity shares amounting to Rs 32.23 crores. The issue price is Rs 76 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Mitcon Consultancy & Engineering equity shares at a discounted price. Mitcon Consultancy & Engineering' share price is Rs 142 per share. The eligible shareholders are being offered 6 Rights Equity shares for every 19 fully paid-up equity shares held on a June 7, 2024, record date. The payment shall be made at the time of application. Through this rights issue, the company plans to raise Rs 32.23 crores. The lead managers for this rights issue is Srujan Alpha Capital Advisors LLP and the registrar is Link Intime India Private Limited. 

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About Mitcon Consultancy & Engineering Limited

Mitcon Consultancy & Engineering Limited, established in 1982, is a technical consulting firm providing solutions from conception to commissioning. Mitcon provides feasibility studies, detailed project reports, techno-economic reports, financial syndication, engineering services to lenders, basic and detailed engineering, tender process management, cluster development, quantitative and market research, asset company valuation and consultancy services to wind power projects. Micon provides consulting services to companies in energy transition, renewable energy, biofuels, green chemistry, skills development, environmental management and engineering, and business consulting. The Mitcon team has completed more than 18,000 consulting assignments in more than 50 countries in Asia, the Middle East and Africa. They have trained over 25 Lakh individuals under various government and non-government skill development and entrepreneurship programs, with a record 75% placement rate. Mitcon Consultancy & Engineering Limited is headquartered in Pune. It has regional offices in Mumbai, Delhi, Ahmedabad, Bengaluru, Nanded, Raipur and Nagpur.

Objectives of Mitcon Consultancy & Engineering Rights Issue

The money raised from Mitcon rights issue will be used for Investment in the subsidiary company - Mitcon Sun Power Limited, for the solar park. To finance the upgradation of the environment laboratory, Investment is a joint venture company, Investment in front-end engineering design development, to finance the acquisition of instruments for trading and to carry out the capital expenditure for renovation of office spaces, partly funding the W.C. requirements.

Financials Details of Mitcon Consultancy & Engineering (Amt in Rs Crores)

Mitcon Consultancy & Engineering posted a revenue of Rs 133.16 crore and net profit of Rs 5.63 crore for the period ending on 31 March 2024. The revenue figures increased by 55.28% and net profit increased by 48.39 % between the FY ending on 31 March 2024 and 31 March 2023. 

Important Details for Mitcon Consultancy & Engineering Rights Issue

Timetable of Mitcon Consultancy & Engineering Rights Issue

How to Apply for Mitcon Consultancy & Engineering Rights Issue?

Wait for the public issue to open for subscription, then click here to apply for the Mitcon Consultancy & Engineering Rights Issue with Bigul.

How do you check the allotment status of the Mitcon Consultancy & Engineering Rights issue?

The registrar for this upcoming rights issue is Link Intime India Private Limited. Investors can check their allotment by clicking here.

FAQs

1. What are the details of the Mitcon Consultancy & Engineering Rights Issue?

The issue size is of 4,241,321 equity shares amounting to Rs 32.23 crores. The issue price is Rs 76 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Mitcon Consultancy & Engineering equity shares at a discounted price. 

2. When does the Rights Issue open and close?

The bid opens on June 28, 2024 and closes on July 26, 2024. The last date to buy shares is Wednesday, June 19, 2024. The record date of this new issue is Thursday, June 20, 2024.

3. How can I apply for the Mitcon Consultancy & Engineering Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just click here to apply and be a part of this offer.

4. How can I check the allotment status of the Mitcon Consultancy & Engineering Issue?

The registrar for this upcoming rights issue is Link Intime India Private Limited. Investors can check their allotment by clicking here.

5. What is the objective of the Mitcon Consultancy & Engineering Rights Issue?

The money raised from the Mitcon rights issue will be used for Investment in the subsidiary company - Mitcon Sun Power Limited, for the solar park. To finance the upgradation of the environment laboratory, Investment is a joint venture company, Investment in front-end engineering design development, to finance the acquisition of instruments for trading and to carry out the capital expenditure for renovation of office spaces, partly funding the W.C. requirements.

6. What is the record date for the Mitcon Consultancy & Engineering Rights Issue?

The record date, which determines the shareholders eligible for the Rights Issue, is set for June 20, 2024.

7. Where will the Mitcon Consultancy & Engineering Right Issue be listed?

The Rights Issue will be listed on the (National Stock Exchange of India) NSE.

8. What is the entitlement ratio for the Mitcon Consultancy & Engineering Right Issue? 

The entitlement ratio is set at 6 Rights equity Shares for every 19 fully paid-up equity shares held on record date June 20, 2024.

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