Sharat Industries Rights Issue: Read important Details Before Applying

Sharat Industries Limited came up with the rights issue. The company issued a total of 15,543,125 Equity shares with a decided issue price of Rs 31 per share, a total amounting to Rs 48.18 Crores. Meanwhile, the face value is reported as Rs 10 per share. Investors who currently do not hold shares of Sharat Industries Limited have the opportunity to purchase shares until July 11, 2024, to qualify for this rights issue. It is important to note that the record date for eligibility is July 12, 2024. However, Cameo Corporate Services Limited is appointed as the registrar for this rights issue. If we look at the entitlement ratio, it is mentioned 13 Rights Equity Share(s) for every 20 fully paid-up Equity Shares held on Record Date.

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About Sharat Industries Limited

Sharat Industries Limited, incorporated in the year 1990 is an integrated aquaculture company situated in the southern part of India. The company started the breeding and processing of black tiger prawns but changed to produce scampi prawns and Vannamei seedlings. It has a structure that encompasses four major divisions: shrimp hatchery, farm, feed mill, and processing plant.

The hatchery produces over 400 million seedlings, while the 500-acre farm on the Bay of Bengal coast has a capacity of 2,000 tonnes annually. Their feed mill for manufacturing VANNASTAR feed has a capacity of 20,000 tonnes. The processing plant has international accreditations and processes more than 7,500 tonnes of frozen shrimp every year. The revenues for FY 2022-23 were at Rs. 33,600.72 lacs.

Financial Performance of Sharat Industries Limited (Amt in Rs Crore)

The company's revenue was reported to be Rs 336.01 Crore for the year ended March 2023, which shows an increase of 35.43%. The profit after tax improved to Rs 6.54 Crore, marking an increase of 89.01% for the year ended March 2024 compared to March 2023.

Important Dates for Sharat Industries Rights Issue

Timetable of Sharat Industries Rights Issue

Lead manager(s), Registrar of Rights Issue & Letter of Offer

The firm has not yet disclosed the lead manager for the rights issue. However, Cameo Corporate Services Limited is appointed as a registrar for this rights issue. You can check your allotment status here. Sharat Industries released a Letter of Offer. To read it in detail, click here.

FAQs

1.      What are the important dates for Sharat Industries 's rights issue?

The important dates include the opening & closing dates of the rights issue, which has not yet been announced by the company.

2.  What is the last date for buying shares to get eligible for this rights issue?

To get eligible for the rights issue of Sharat Industries limited, an investor can buy its shares till July 11, 2024.

3.  What is the record date for the Sharat Industries Rights Issue?

The record date, which is the Date to determine the shareholder's eligibility for the Rights Issue is July 12, 2024. 

4.  How can I apply for the Sharat Industries Limited Rights Issue?

You can apply for Sharat Industries Rights Issues 2024 in two ways one is Net Banking (ASBA) and the other is by visiting Registrar's Website (R-WAP Facility).

5.  How can I check the allotment status of the Sharat Industries Issue?

The registrar for this rights issue is Cameo Corporate Services Limited, you can check your allotment status by visiting here.

6.  From where can I get the Letter of Offer for this Rights Issue?

You can download the Letter of Offer by visiting here, once it is announced.

7.  Where will the Sharat Industries Rights Issue be listed?

The Rights Issue will be listed on the BSE.

8.  What is the entitlement ratio for the Sharat Industries Limited Rights Issue?

The entitlement ratio is set at 13 Rights Equity Shares for every 20 fully paid-up equity shares held on the record date.

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