Nirman Agri Genetics Limited Rights Issue: Things to Know

• Nirman Agri Genetics Rights Issue bid opens on August 5, 2024.
• The Rights Issue size is Rs 48.97 crore.
• The upcoming issue’s price is set at Rs 239 per share.
• The bid offer closes on August 23, 2024.

Nirman Agri Genetics Limited Rights Issue: Synopsis

Nirman Agri Genetics Limited is coming up with its rights issue. The bid opens on August  5, 2024 and closes on August 23, 2024. The last Date to buy shares is Friday, July 26, 2024. The record date of this new issue is Monday, July 29, 2024. The issue size is 2,049,025 equity shares amounting to Rs 48.97 crores. The issue price is Rs 239 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Nirman Agri Genetics equity shares at a discounted price. Nirman Agri Genetics' share price is Rs 415.75 per share. The eligible holders are being offered 11 Rights Equity shares for every thirty-two (32) fully paid-up equity shares held on a July 29, 2024, record date. Through this rights issue, the company plans to raise Rs 49.97 crores. The lead managers and register for this issue are yet to be announced. 

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Nirman Agri Genetics Limited Rights Issue: About the company

Nirman Agri Genetics Limited was incorporated in August 2020, is an Indian company that deals with agricultural products. Nirman produces, processes, and markets high-quality hybrid seeds, pesticides, and bio-organic products for various crops such as corn, sunflower, cotton, paddy, grain sorghum, etc. They also started offering micronutrients and bioproducts. The company has production, processing, and research facilities in Maharashtra, specifically in Nashik and Nimgul, as well as in Gujarat and Madhya Pradesh. The company's product portfolio includes Sunflower Seed, Corn Seed, Cotton Seed, Okra Seed, Tomato, Bajra Seed, Paddy Seed, Grain Sorghum seed, Watermelon seed, Mustard seed and castor seeds. The company has a network of dealers and distributors in Maharashtra, Madhya Pradesh, and Gujarat.

Nirman Agri Genetics Limited Rights Issue: Objectives

The main objective of this rights issue is to raise funds from the shareholders to run the business. This issue will give priority to the existing shareholders to buy the shares at a discounting price. 

Important Details for Nirman Agri Genetics Limited Rights Issue

Timetable of Nirman Agri Genetics Limited Rights Issue

Nirman Agri Genetics Limited: Financial Metrics (Amt in Rs Crores)

Nirman Agri Genetics Limited posted a revenue of Rs 63.34 crore and net profit of Rs 10.40 crore for the period ending on March 31 2024. The revenue figures increased by 121.4% and net profit increased by 159.76% between the FY ending on 31 Mar 2024 and 31 Mar 2023.

Lead managers, Registrar of Rights Issue 

The details of the book-running lead managers and registrar for this issue is yet to be announced. Once the registrar details are out, you can check the allotment status by visiting their website. 

FAQs

1. What are the details of the Nirman Agri Genetics Limited Rights Issue?

The issue size is 2,049,025 equity shares amounting to Rs 48.97 crores. The issue price is Rs 239 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Nirman Agri Genetics equity shares at a discounted price. 

2. When does the Rights Issue open and close?

The bid opens on August  5, 2024 and closes on August 23, 2024. The last Date to buy shares is Friday, July 26, 2024. The record date of this new issue is Monday, July 29, 2024. 

3. How can I apply for the Nirman Agri Genetics Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just visit the registrar website to apply for the rights issue online. 

4. How can I check the allotment status of the Nirman Agri Genetics Limited Issue?

The registrar for this upcoming rights issue is not yet announced. Investors can check out the allotment by visiting the registrar's website. 

5. What is the objective of the Nirman Agri Genetics Limited Rights Issue?

The main objective of this rights issue is to raise funds from the shareholders to run the business. This issue will give priority to the existing shareholders to buy the shares at a discounting price. 

6. What is the record date for the Nirman Agri Genetics Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for July 29, 2024.

7. Where will the Nirman Agri Genetics Limited Right Issue be listed?

The Rights Issue will be listed on the NSE.

8. What is the entitlement ratio for the Nirman Agri Genetics Limited Right Issue? 

The entitlement ratio is set at 11 Rights equity Shares for every 32 fully paid up equity shares held on record date July 29, 2024. 

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