Nakoda Group of Industries Rights Issue: Key Points to Consider

Nakoda Group of Industries Limited is coming with its rights issue in the coming week. The bid opens on June 13, 2024 and closes on June 28, 2024. The last date to buy shares is Wednesday, May 29, 2024. The record date of this new issue is Thursday, May 30, 2024. The issue size is of 5,090,056 equity shares amounting to Rs 12.73 crores. The issue price is Rs 25 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Nakoda Group of Industries equity shares at a discounted price. Nakoda Group of Industries' share price is Rs 48 per share. The eligible shareholders are being offered 4 Rights Equity shares for every ten fully paid-up equity shares held on a May 30, 2024, record date. The payment terms are decided as Rs 6.25 payable on application, Rs 18.75 in one or more subsequent Calls. Through this rights issue, the company plans to raise Rs 12.73 crores. The registrar and lead managers for this issue have yet to be announced. 

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About Nakoda Group of Industries Limited 

Nakoda Group of Industries was founded in 1989, manufacturing healthy and natural products based on dried fruits. The company's product portfolio are papaya jam, Karonda cherries, sweet lime peels, hulled sesame seeds, all kinds of jam, sauces, spices, pickles, papad, frozen fruits and vegetables. Nakoda Group has three manufacturing units in Nagpur, namely Navkar Processors, Nakoda Food Products and Parshva food international. Each unit has a production capacity of 8 to 10 million per day. This group has around 80% export-oriented business, and the rest 20% is in the domestic market. Its customer base includes ice cream factories, bakeries, confectionery and namkeen factories, airlines, railroad catering and the Indian military. The company imports almonds in shell pistachios, Iranian dates, Iranian saffron and spices from China, Vietnam, and Indonesia and sells them both in domestic markets and subsidiary companies.  

Objectives of Nakoda Group Rights Issue 

The primary objective of this rights issue is to raise funds from the existing shareholders by giving them shares at a discount rate. The funds will likely be used to expand the business. Other objectives have not yet been declared. 

Financials Details of Nakoda Group of Industries Limited  (Amt in Rs Crores) 

Nakoda Group of Industries Limited posted a revenue of Rs 54.67 crore and net profit of Rs 0.91 crore for the period ending on 31 March 2023. The revenue decreased by -8.86% and PAT dropped by -47.6% between the financial year ending with 31 March 2023 and 31 March 2022. 

Important Details for Nakoda Group of Industries Limited Rights Issue 

Timetable of Nakoda Group of Industries Limited Rights Issue 

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

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

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

FAQs  

1. What are the details of the Nakoda Group of Industries Limited Rights Issue? 

The issue size is of 9,865,121 equity shares amounting to Rs 49.33 crores. The issue price is Rs 50 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Nakoda Group of Industries equity shares at a discounted price. 

2. When does the Rights Issue open and close? 

The bid opens on June 13, 2024 and closes on June 28, 2024. The last date to buy shares is Wednesday, May 29, 2024. The record date of this new issue is Thursday, May 30, 2024.  

3. How can I apply for the Nakoda Group of 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 Nakoda Group of Industries Limited Issue? 

The registrar for this Nakoda Group rights issue is not yet declared. Once it gets announced investors can check it by visiting their website. 

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

The primary objective of this rights issue is to raise funds from the existing shareholders by giving them shares at a discount rate. The funds will likely be used to expand the business. Other objectives have not yet been declared. 

6. What is the record date for the Nakoda Group of Industries Limited Rights Issue? 

The record date, which determines the shareholders eligible for the Rights Issue, is set for May 30, 2024. 

7. Where will the Nakoda Group of Industries Limited Right Issue be listed? 

The Rights Issue will be listed on the BSE, NSE. 

8. What is the entitlement ratio for the Nakoda Group of Industries Limited Right Issue?  

The entitlement ratio is set at 4 Rights equity Shares for every ten fully paid-up equity shares held on record date May 30, 2024.  

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