Spectrum Foods Rights Issue: Diving into the Details of the Issue

Spectrum Foods rights issue will open for subscription on Friday, April 8, 2024 and close on Friday, April 22, 2024. This issue will give eligibility to the existing shareholders to buy Spectrum Foods equity shares at discount price. The last date to buy shares is Tuesday, March 26, 2024. The record date of this new issue is Wednesday, March 27, 2024. The issue size is of 19,393, 544 equity shares amounting to Rs 38.79 crores. The issue price is set at Rs 20 per share, and the face value is at Rs 10 per share. Presently, the share price of Spectrum Foods is trading at Rs 68 per share. The eligible shareholders are being offered four Rights Equity shares for every one fully paid up equity shares held on a March 27, 2024, record date. Through this rights issue, the company is planning to raise Rs 38.79 crores. The lead managers and registrar for this issue are not yet announced.

About Spectrum Foods Limited

Spectrum Foods Limited are the prominent manufacturer and exporter of high quality spices and foods products. Company is four decades old and sells its product with a brand name of Charminar Spices. Spectrum provides services in India and also exports products into different countries. Spectrum Foods mission is to provide high quality products to their valuable customers and clients. They offer a wide range of products which are manufactured from the premium quality raw material. The products include Raw Spices, Indian Masala, Spices Blend, Pickle, Sauces, Chutney, Paste, Papad and Dehydrated Vegetables. These are packed through automated machines to keep it free from the human touch to avoid germs. Company had six business divisions: Spices Division, Export Division, Private Labelling Division, Pickle Division, Chilli Division, Turmeric Division. 

Objectives of Spectrum Foods Rights Issue

The objective of this rights issue is to raise funds by giving invitations to the existing shareholders for buying new equity shares. However, the Spectrum Foods has not yet declared about how funds will get allocated.

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Financial Details of Spectrum Foods (Amt in Rs Crores)

Spectrum Foods posted a revenue of Rs 15.71 crores and profit after tax of Rs 0.38 crore. The revenue decreased by -2.86% and profit after tax increased by 250.65% between the FY ending on 31 March 2023 and 31 March 2022. 

Important Details for Spectrum Foods Rights Issue

Timetable of Spectrum Foods Rights Issue

How to Apply for Spectrum Foods Rights Issue?

Wait for the public issue to open for subscription, then click here to apply for the Spectrum Foods Limited Rights Issue with Bigul.

How to Check the Allotment Status of Spectrum Foods Rights Issue?

The registrar for Spectrum Foods Limited Rights Issue is not yet announced. Follow us and stay tuned for more updates. 

FAQs

1. What is the Spectrum Foods Limited Rights Issue?

The issue size is 19,393, 544 equity shares amounting to Rs 38.79 crores. The issue price is set at Rs 20 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Spectrum Foods equity shares at a discount. The last date to buy shares is Tuesday, March 26, 2024. The record date of this new issue is Wednesday, March 27, 2024. 

2. When does the Rights Issue open and close?

This Rights Issue will open for subscription on April 8, 2024 and closes on April 22, 2024.  

3. How can I apply for the Spectrum Foods Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.

4. How can I check the allotment status of the Spectrum Foods Limited Issue?

The registrar for this right issue is yet to be declared. Investors can check out the allotments status after the name of the registrar gets announced. Stay tuned for further updates. 

5. What is the objective of Spectrum Foods Limited Rights Issue? 

This rights issue aims to raise funds by giving invitations to the existing shareholders for buying new equity shares. However, the Spectrum Foods has not yet declared about how funds will get allocated.

6. What is the record date for the Spectrum Foods Limited Rights Issue?

The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for March 27, 2024.

7. Where will the Spectrum Foods Limited Right Issue be listed? 

The Rights Issue will be listed on the BSE.

8. What is the entitlement ratio for the Spectrum Foods Limited Right Issue? 

The entitlement ratio is set at four Rights equity Shares for every one fully paid-up equity shares held on record date March 27, 2024. 

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