14-Mar-2024
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Tierra Agrotech rights issue will open for subscription on Thursday, March 28, 2024 and close on Wednesday, April 10, 2024. This issue will give eligibility to the existing shareholders to buy Tierra Agrotech equity shares at discount price. The last date to buy shares is Thursday, March 15, 2024. The record date of this new issue is Monday, March 18, 2024. The issue size is of 9,694,041 equity shares amounting to Rs 48.47 crores. The issue price is set at Rs 50 per share, and the face value is at Rs 10 per share. Presently, the share price of Tierra Agrotech is trading at Rs 61.74 per share.
The eligible shareholders are being offered one Rights Equity shares for every five fully paid up equity shares held on a March 18, 2024, record date. The terms of payment is decided as the full amount of Rs 50 per share is payable on application. Through this rights issue, the company is planning to raise Rs 48.47 crores. The lead managers and registrar for this issue are not yet announced.
About Tierra Agrotech Limited
Tierra Agrotech Limited is a technology driven agricultural company that produces hybrid seeds. Company was founded in 2012, engaged in research, development, production, processing and marketing of hybrid seeds for major crops like rice, mustard, maze, tomato, cotton and okra. Tierra Agrotech Limited has established a Research and Development unit in Hyderabad in an area of 10,000 square feet laboratory space with several greenhouses. It has more than 50 acres of breeding farms supported with drip irrigation and other farming facilities. The company also has three R&D units one is in Bangalore and two other in Gurgaon and Pune. The company’s focus is to introduce value added differentiated products and technologies in the market. Tierra Agrotech has attracted global attention after their acquisition of Monsanto’s India Cotton seed business and DuPont Pioneer's cotton company Xylem became one of top cotton company in the country.
Objectives of Tierra Agrotech 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 company has not yet declared about how funds will get allocated.
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Financial Details of Tierra Agrotech (Amt in Rs Crores)
Tierra Agrotech posted a revenue of Rs 60.71 crores and Rs 56.79 for the period ending on 31 march 2023 and 31 march 2022 respectively. The company’s revenue increased by 6.91% and profit after tax declined by -107.18% between the FY ending on 31 march 2023 and 31 march 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 172.83 | 173.63 | 162.15 |
| Revenue | 60.71 | 56.79 | 58.37 |
| Profit After Tax | -28.21 | -13.62 | -6.27 |
Important Details for Tierra Agrotech Rights Issue
| Issue Open | March 28, 2024 - April 10, 2024 |
| Security Name | Tierra Agrotech Limited |
| Issue Size (Shares) | 9,694,041 |
| Issue Size (Amount) | Rs 48.47 Crores |
| Issue Price | Rs 50 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | The full amount of the issue price of Rs 50 is payable at the time of application. |
| Entitlement | One Rights Equity Shares for every five fully paid-up Equity Shares held on Record Date |
Timetable of Tierra Agrotech Rights Issue
| Last Date to buy shares | 15-Mar-24 |
| Record Date | 18-Mar-24 |
| Credit of Rights Entitlements | Not yet announced |
| Bid/Offer Opens On | 28-Mar-24 |
| Renunciation of Rights Entitlements | 3-Apr-24 |
| Bid/Offer Closes On | 10-Apr-24 |
| Deemed Date of Allotment | Not yet announced |
| Credit Date | Not yet announced |
| Listing Date | Not yet announced |
How to Apply for Tierra Agrotech Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Tierra Agrotech Limited Rights Issue with Bigul.
How to Check Allotment Status of Tierra Agrotech Rights Issue?
The registrar for Tierra Agrotech Limited Rights Issue is not yet announced. Follow us and stay tuned for more updates.
FAQs
1. What is the Tierra Agrotech Limited Rights Issue?
Tierra Agrotech rights issue will open for subscription on Thursday, March 28, 2024 and close on Wednesday, April 10, 2024. This issue will give eligibility to the existing shareholders to buy Tierra Agrotech equity shares at discount price. The last date to buy shares is Thursday, March 15, 2024. The record date of this new issue is Monday, March 18, 2024.
2. When does the Rights Issue open and close?
This Rights Issue will open for subscription on March 28, 2024 and closes on April 10, 2024.
3. How can I apply for the Tierra Agrotech 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 Tierra Agrotech 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 Tierra Agrotech Limited 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 company has not yet declared about how funds will get allocated.
6. What is the record date for the Tierra Agrotech Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for March 18, 2024.
7. Where will the Tierra Agrotech Limited Right Issue be listed?
The Rights Issue will be listed on the BSE.
8. What is the entitlement ratio for the Tierra Agrotech Limited Right Issue?
The entitlement ratio is set at one Rights equity Shares for every five fully paid-up equity shares held on record date March 18, 2024.
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