Savani Financials Limited Rights Issue: Important Details to Know

Savani Financials Limited came up with the right issue. The issue size of Equity shares is worth Rs 49.50 Crores. The opening and closing date for the subscription for the right issue has yet to be announced. The issue price has also not yet been disclosed. However, the face value is Rs 10 per share. Meanwhile, an investor who does not own shares of Savani Financials Limited can buy its shares till April 3, 2024, to be eligible for this rights issue, which is the last date to buy shares, and the record date is reported as April 4, 2024. The registrar who will be managing this right issue is Bigshare Services Private Limited.

About Savani Financials Limited

The Company was incorporated as "Savani Investments and Leasing Limited" on December 21, 1983 later, the name of our Company was changed to "Savani Financials Limited" on October 14, 1993, vide a fresh certificate of incorporation issued by the Registrar of Companies, Maharashtra, Bombay. Savani Financials Limited is a NBFC (Non-Banking Financials Services) company which is a service based company that offers financials services to customers.

Primary Objectives of Savani Financials right issue

The Net Proceeds from the Issue are proposed to be utilised by the Company is that the amount raised will primarily be used to expand the business operations that is intend to increase the lending/ financing portfolio, repayment/pre-payment, in full or part, of certain identified unsecured loans availed by our Company from their Director Ms. Deepa Tracy and lastly in other general corporate purposed.

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Financial Performance of Savani Financials Limited (Amt in Rs Crore)

Savani Financials Limited reported Rs 0.11 Cr of net revenue for FY 22-23, which is exactly the same as compared to FY 21-22, whereas Profit after tax is reported Rs -0.07 Cr for FY 22-23, i.e., in the loss.

Important Dates for Savani Financials Rights Issue

Timetable of Savani Financials Rights Issue

How do I apply for the Savani Financials Rights Issue?

Once the Savani Financials Rights Issue application is open for subscription, you can click here to apply with Bigul.

How do you check the allotment status of the Savani Financials Rights Issue?

The registrar for this right issue is Bigshare Services Private Limited. Investors can check the allotment status by clicking here. 

FAQs

1 What is the Savani Financials Rights Issue opening and closing date?

The opening and closing date of this Rights Issue have not yet been disclosed; you can check it here once it is disclosed.

2. What is the record date for the Savani Financials Rights Issue?

The record date, which is the date to determine the shareholder's eligibility for the Rights Issue, is April 4, 2024.

3. What is the last Date to buy Shares?

To get eligible for the rights issue of Savani Financials limited, an investor can buy its shares till April 3, 2024.

4. What are the recent financial updates of Savani Financials Limited?

Savani Financials Limited reported Rs 0.11 Cr of net revenue for FY 22-23, which is exactly the same as compared to FY 21-22, whereas Profit after tax is reported Rs -0.07 Cr for FY 22-23, i.e., in the loss.

5. How can I apply for the Savani Financials Rights Issue?

You can apply for the Savani Financials Rights Issue right issue by visiting here.

6. How can I check the allotment status of the Savani Financials Issue?

The registrar for this right issue is Bigshare Services private Limited. Investors can check the allotment status by clicking here.

7. Where will the Savani Financials Right Issue be listed?

The Rights Issue will be listed on the Bombay Stock Exchange (BSE).

8.  What is the entitlement ratio for the Savani Financials Limited Right Issue?

The entitlement ratio is not yet disclosed, it will be update here as soon as it will get disclosed.

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