Synergy Green Limited Rights Issue: Checkout the Detail

1. Synergy Green Rights Issue bid opens on September 23, 2024.
2. The Rights Issue size is Rs 45.92 crore.
3. The upcoming issue’s price is set at Rs 325 per share.
4. The bid offer closes on October 4, 2024.

Synergy Green Limited Rights Issue: Synopsis

Synergy Green Limited is coming up with its rights issue. The bid opens on September 23, 2024 and closes on October 4, 2024. The last Date to buy shares is on Tuesday, September 10, 2024. The record date of this new issue is Wednesday, September 11, 2024. The issue size is 1,413,000 equity shares amounting to Rs 8.40 crores. The issue price is Rs 100 per share, and the face value is Rs 10 per share.

This issue will allow existing shareholders to buy Synergy Green equity shares at a discounted price. Synergy Green' share price is Rs 433.90 per share. The eligible holders are being offered 1 Rights Equity shares for every ten 10 fully paid-up equity shares held on a September 11, 2024, record date. Through this rights issue, the company plans to raise Rs 45.92 crores. The register and book-running lead managers are yet to be announced.

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Synergy Green Limited: About the Company

Synergy Green Limited was established in 2011, engaged in the business of manufacturing large format critical castings for the wind turbine industry, wind gearboxes and general engineering applications such as mining, plastic injection moulding and pumps.

Synergy Green Limited have installed a semi-automated mould preparation line and delivers excellent quality with highest productivity. The company manufactures ductile iron, grey iron and steel castings in a weight range of 3 MT to 30 MT single piece. The customer lists world's top ten turbine OEMs such as Vestas, Siemens Gamesa, GE Renewable, Nordex and Senvion .

Synergy Green Limited: Objectives

The net proceeds from this issue will be used for capital expenditures to enhance the foundry capacity and for setting up a new fettling shop. The remaining funds will be used for the installation of solar plant captive consumption, to meet general corporate purposes, and to fulfil issue-related expenses.

Important Details for Synergy Green Limited Rights Issue

Timetable of Synergy Green Limited Rights Issue

Synergy Green Limited: Financial Metrics (Amt in Rs Crores)

Synergy Green Limited posted a revenue of Rs 328.13 crore and net profit of Rs 11.56 crore for the period ending on March 31 2024. The revenue figures increased by 13% and net profit increased by 1233% between the FY ending on 31 Mar 2024 and 31 Mar 2023.

Lead managers, Registrar of Rights Issue

The details of the book-running lead managers and registrar for this issue are yet to be announced. Once the registrar details are out, you can check the allotment status by visiting their website.

FAQs

1. What are the details of the Synergy Green Limited Rights Issue?

The issue size is 1,413,000 equity shares amounting to Rs 8.40 crores. The issue price is Rs 100 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Synergy Green equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on September 23, 2024 and closes on October 4, 2024. The last Date to buy shares is on Tuesday, September 10, 2024. The record date of this new issue is Wednesday, September 11, 2024.

3. How can I apply for the Synergy Green Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just visit the registrar's website to apply for the rights issue online.

4. How can I check the allotment status of the Synergy Green Limited Issue?

The registrar for this upcoming rights issue is not yet announced. Investors can check out the allotment by visiting the registrar's website.

5. What is the objective of the Synergy Green Limited Rights Issue?

The net proceeds from this issue will be used for capital expenditures to enhance the foundry capacity and for setting up a new fettling shop. The remaining funds will be used for the installation of solar plant captive consumption, to meet general corporate purposes, and to fulfil issue-related expenses.

6. What is the record date for the Synergy Green Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for September 11, 2024.

7. Where will the Synergy Green Limited Right Issue be listed?

The Rights Issue will be listed on the BSE, NSE.

8. What is the entitlement ratio for the Synergy Green Limited Right Issue?

The entitlement ratio is set at 1 Rights equity Shares for every 10 fully paid up equity shares held on record date September 11, 2024.

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