Suraj Industries Limited Rights Issue: What Investors Must Know

Suraj Industries Limited is coming up with its rights issue. The bid opens on July 22, 2024 and closes on August 5, 2024. The last Date to buy shares is Tuesday, July 9, 2024. The record date of this new issue is Wednesday, June 10, 2024. The issue size is 29,97,375 equity shares amounting to Rs 19.48 crores. The issue price is Rs 65 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Suraj Industries equity shares at a discounted price. Suraj Industries' share price is Rs 84 per share. The eligible holders are being offered 7 Rights Equity shares for every thirty (30) fully paid-up equity shares held on a June 10, 2024, record date. Through this rights issue, the company plans to raise Rs 19.48 crores. Beetal Financial and Computer Services Private Limited is the registrar for the upcoming rights issue. The lead managers for this issue are yet to be announced.

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About Suraj Industries Limited

Suraj Industries Limited was founded in 1992, is involved in trading edible oils such as Palm Oil, Soybean Oil, Rice Flakes, Malt and empty glass bottles. Suraj Industries also processes and bottles liquor. The company has two main business lines - Trading edible oils and products like palm oil, soybean oil, rice flakes, malt, and empty glass bottles, and Processing and bottling Rajasthan Made Liquor for Rajasthan State Ganganagar Sugar Mills Limited. The company's liquor processing and bottling unit is at Rajasthan State Ganganagar Sugar Mills Ltd in Ajmer. As of September 2023, Suraj Industries has a workforce of 36 employees in various departments. 

Objectives of Suraj Industries Rights Issue

Suraj Industries Limited will use the amount the to repay or prepay the certain unsecured loans availed by the company. Also to grant loan to its subsidiary - Carya Chemicals and Fertilizers Private Limited. Additionally, to meet the general corporate expenses.

Financials Details of Suraj Industries Limited  (Amt in Rs Crores)

Suraj Industries Limited posted a revenue of Rs 68.22 crore and net profit of Rs 7.44 crore for the period ending on 31 March 2023. The revenue figures increased by 65.25% and net profit increased by 142.19% between the FY ending on 31 March 2023 and 31 March 2022. 

Important Details for Suraj Industries Limited Rights Issue

Timetable of Suraj Industries Limited Rights Issue

How to Apply for Suraj Industries Limited Rights Issue?

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

How do you check the allotment status of the Suraj Industries Limited Rights issue?

Beetal Financial and Computer Services Private Limited is the registrar for this upcoming rights issue. Investors can check out the allotment by visiting the registrar's website. 

FAQs

1. What are the details of the Suraj Industries Limited Rights Issue?

The issue size is 29,97,375 equity shares amounting to Rs 19.48 crores. The issue price is Rs 65 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Suraj Industries equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on July 22, 2024 and closes on August 5, 2024. The last Date to buy shares is Tuesday, July 9, 2024. The record date of this new issue is Wednesday, June 10, 2024.

3. How can I apply for the Suraj Industries 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 Suraj Industries Limited Issue?

Beetal Financial and Computer Services is the registrar for this upcoming rights issue. Investors can check out the allotment by visiting the registrar's website. 

5. What is the objective of the Suraj Industries Limited Rights Issue?

Suraj Industries Limited will use the amount the to repay or prepay the certain unsecured loans availed by the company. Also to grant loan to its subsidiary - Carya Chemicals and Fertilizers Private Limited. Additionally to meet the general corporate expenses.

6. What is the record date for the Suraj Industries Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for June 10, 2024.

7. Where will the Suraj Industries Limited Right Issue be listed?

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

8. What is the entitlement ratio for the Suraj Industries Limited Right Issue? 

The entitlement ratio is set at 7 Rights equity Shares for every 30 fully paid up equity shares held on record date June 10, 2024. 

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