29-Mar-2024
2 mins read
Shiva Cement rights issue will open for subscription on Monday, April 22, 2024 and close on Monday, May 6, 2024. This issue will give eligibility to the existing shareholders to buy Shiva Cement equity shares at discount price. The last date to buy shares is Tuesday, April 2, 2024. The record date of this new issue is Wednesday, April 3, 2024. The issue size is of 10,000,000 equity shares amounting to Rs 400 crores. The issue price is set at Rs 40 per share, and the face value is at Rs 2 per share. On 28 March 2024, the share price of Shiva Cement closed at Rs 46.65 per share. The eligible shareholders are being offered 20 Rights Equity shares for every 39 fully paid up equity shares held on a April 3, 2024, record date. The terms of payment is decided as the full amount of Rs 40 per share is payable on application. Through this rights issue, the company is planning to raise Rs 400 crores. The lead managers are not yet announced. The registrar for this issue Kfin Technologies Limited.
About Shiva Cement Limited
Shiva Cement was incorporated in 1985, engaged in the business of manufacturing clinker and trading other related products in the cement industry. Shiva Cement is a strategic investment of well renowned JSW Cement to establish a strong presence in the eastern part of India. Company’s manufacturing facility is strategically located at the geographical border of the three eastern states of India. Odisha, Chhattisgarh and Jharkhand. The company’s clinker production plant has a capacity of 8.9 MW and its own 132 KV power line. Shiva Cement is also in the process of setting up a crushing plant for 4 MTPA of Limestone at its mines in Odisha. As per latest information available, as of June 30, 2023, the company employed 225 permanent employees.
Objectives of Shiva Cement Rights Issue
Shiva Cement is likely to use the net proceeds from the issue to repay and prepay certain company borrowings. Other than this, general corporate purposes will be served.
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Financial Details of Shiva Cement (Amt in Rs Crores)
Shiva Cement posted a revenue of Rs 3.47 crores and net loss of Rs 80.47 crore for the period ending on 31 March 2023. Earlier, for the year ending on 31 March 2022, the company reported a revenue of Rs 7.27 crore and net loss of Rs -25.52 crore.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 1,391.49 | 898.36 |
| Revenue | 3.47 | 7.27 |
| Profit After Tax | -80.47 | -25.52 |
Important Details for Shiva Cement Rights Issue
| Issue Open | April 22, 2024 - May 6, 2024 |
| Security Name | Shiva Cement Limited |
| Issue Size (Shares) | 100,000,000 |
| Issue Size (Amount) | Rs 400 Crores |
| Issue Price | Rs 40 per share |
| Face Value | Rs 2 per share |
| Listing At | BSE |
| Terms of Payment | The full amount of Rs 40 is payable on the application. |
| Entitlement | 20 Rights Equity Shares for every 39 fully paid-up Equity Shares held on April 3, 2024 |
Timetable of Shiva Cement Rights Issue
| Last Date to buy shares | Tuesday, April 2, 2024 |
| Record Date | Wednesday, April 3, 2024 |
| Credit of Rights Entitlements | Not yet announced |
| Bid/Offer Opens On | Monday, April 22, 2024 |
| Renunciation of Rights Entitlements | Tuesday, April 30, 2024 |
| Bid/Offer Closes On | Monday, May 6, 2024 |
| Deemed Date of Allotment | Not yet announced |
| Credit Date | Not yet announced |
| Listing Date | Not yet announced |
How to Apply for Shiva Cement Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Shiva Cement Limited Rights Issue with Bigul.
How to Check Allotment Status of Shiva Cement Rights Issue?
The registrar for Shiva Cement Limited Rights Issue is Kfin Technologies Limited. You can check the allotment by clicking here.
FAQs
- What is the Shiva Cement Limited Rights Issue?
Shiva Cement rights issue will open for subscription on Monday, April 22, 2024 and close on Monday, May 6, 2024. This issue will give eligibility to the existing shareholders to buy Shiva Cement equity shares at discount price. The last date to buy shares is Tuesday, April 2, 2024. The record date of this new issue is Wednesday, April 3, 2024.
- When does the Rights Issue open and close?
This Rights Issue will open for subscription on April 22, 2024 and closes on May 6, 2024.
- How can I apply for the Shiva Cement Limited Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.
- How can I check the allotment status of the Shiva Cement Limited Issue?
The registrar for this right issue is Kfin Technologies Limited. To check allotments status click here. Stay tuned for further updates.
- What is the objective of the Shiva Cement Limited Rights Issue?
Shiva Cement is likely to use the net proceeds from the issue to repay and prepay certain company borrowings. Other than this, general corporate purposes will be served.
- What is the record date for the Shiva Cement Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for April 3, 2024.
- Where will the Shiva Cement Limited Right Issue be listed?
The Rights Issue will be listed on the BSE.
- What is the entitlement ratio for the Shiva Cement Limited Right Issue?
The entitlement ratio is set at 20 Rights equity Shares for every 39 fully paid up equity shares held on record date April 3, 2024.
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