Sahana System Limited Rights Issue: Read More in Detail

● Sahana System Rights Issue bid opens on October 11, 2024.

● The Rights Issue size is Rs 48.87 crore.

● The upcoming issue’s price is set at Rs 890 per share.

● The bid offer closes on October 25, 2024.

Sahana System Limited Rights Issue: Synopsis

Sahana System Limited is coming up with its rights issue. The bid opens on October 11, 2024 and closes on October 25, 2024. The last Date to buy shares is on Tuesday, September 24, 2024. The record date of this new issue is Wednesday, September 25, 2024. The issue size is 5,49,084 equity shares amounting to Rs 48.87 crores. The issue price is Rs 890 per share, and the face value is Rs 10 per share.

This issue will allow existing shareholders to buy Sahana System equity shares at a discounted price. Sahana System' share price is Rs 1339.95 per share. The eligible holders are being offered 1 Rights Equity shares for every 15 fully paid-up equity shares held on a September 25, 2024, record date. Through this rights issue, the company plans to raise Rs 48.87 crores. The register and book-running lead managers are yet to be announced.

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Sahana System Limited: About the company

Sahana System Limited incorporated in 2020, engaged in the business of offering IT related services. The services include web app development, mobile application development, AI and ML development, ChatBot development, and product prototyping.

Sahana System Limited also offers graphic design, UI and UX design, SEO and ASO, digital marketing, website and application migration, cyber security, and outsourcing of IT services. They are also engaged in blockchain development, offering dApp services and smart contract expertise. Additionally, the company's IOT solutions help other businesses to automate processes by gathering and analysing the data from physical devices. The company has clients domestically and internationally which drives customer satisfaction through innovative and tailored IT solutions.

Sahana System Limited Rights Issue: Objectives

The net proceeds from this rights issue will be used to increase the capital base of the company. The remaining funds will be used for meeting the general corporate purposes and fulfil the issue related expenses.

Important Details for Sahana System Limited Rights Issue

Timetable of Sahana System Limited Rights Issue

Sahana System Limited: Financial Metrics (Amt in Rs Crores)

Sahana System Limited posted a revenue of Rs 69.29 crore and net profit of Rs 18.21 crore for the period ending on March 31 2024. The revenue figures increased by 187% and net profit increased by 193% 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 are 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 Sahana System Limited Rights Issue?

The issue size is 5,49,084 equity shares amounting to Rs 48.87 crores. The issue price is Rs 890 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Sahana System equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on October 11, 2024 and closes on October 25, 2024. The last Date to buy shares is on Tuesday, September 24, 2024.

3. How can I apply for the Sahana System Limited Rights Issue?

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

4. How can I check the allotment status of the Sahana System 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 Sahana System Limited Rights Issue?

The net proceeds from this rights issue will be used to increase the capital base of the company. The remaining funds will be used for meeting the general corporate purposes and fulfill the issue related expenses.

6. What is the record date for the Sahana System Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for September 25, 2024.

7. Where will the Sahana System Limited Right Issue be listed?

The Rights Issue will be listed on the NSE.

8. What is the entitlement ratio for the Sahana System Limited Right Issue?

The entitlement ratio is set at 1 Rights equity Shares for every 15 fully paid up equity shares held on record date September 25, 2024.

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