Vinny Overseas Limited Rights Issue: Things to Know

• Vinny Overseas Limited Rights Issue bid opens on August 27, 2024.

• The Rights Issue size is Rs 46.52 crore.

• The upcoming issue’s price is set at Rs 2 per share.

• The bid offer closes on September 10, 2024.

Vinny Overseas Limited Rights Issue: Synopsis

Vinny Overseas Limited is coming up with its rights issue. The bid opens on August 27, 2024 and closes on September 10, 2024. The last Date to buy shares is Tuesday, August 13, 2024. The record date of this new issue is Wednesday, August 14, 2024. 

The issue size is 23,26,23,311 equity shares amounting to Rs 46.52 crores. The issue price is Rs 2 per share, and the face value is Rs 1 per share. This issue will allow existing shareholders to buy Vinny Overseas equity shares at a discounted price. 

Vinny Overseas' share price is Rs 4.83 per share. The eligible holders are being offered 1 Rights Equity shares for every one fully paid-up equity shares held on August 14, 2024, record date. Through this rights issue, the company plans to raise Rs 46.52 crores. The lead managers and register for this issue are yet to be announced.

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About Vinny Overseas Limited

Vinny Overseas Limited was incorporated in 1992 and is engaged  in the textile manufacturing business. The product list of the Vinny Overseas includes Denims, Polyester, Rayon, and Cotton fabric. 

Vinny Overseas is mainly engaged in processing fabrics received from its customers on a job basis. Fabric is manufactured on a job basis for export and domestic markets. 

At the processing stage, various properties/qualities are developed which make the grey fabrics its usable form. 

Company's performance of production depends on demand and supply ratio of Textile Commodities in domestic as well as in International markets. The company's operations are focused in their segment of core competence viz. Fabric processing. 

All operating stages are kept self-sufficient to perform their own duties and functions, with the support provided at a corporate level as and when required.

Vinny Overseas Limited Rights Issue: Objectives

The main objective of this Vinny Overseas rights issue is to raise funds from the shareholders to run the business and to meet the day-to-day capital needs. This issue will give priority to the existing shareholders who want to buy the shares at a discounted price.

Important Details for Vinny Overseas Limited Rights Issue

Timetable of Vinny Overseas Limited Rights Issue

Vinny Overseas Limited: Financial Metrics (Amt in Rs Crores)

Vinny Overseas Limited posted a revenue of Rs 113.43 crore and net profit of Rs 3.54 crore for the period ending on 31 Mar 2024. The revenue figures increased by 6.38% and net profit increased by 47.24% 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 is 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 Vinny Overseas Limited Rights Issue?

The issue size is 23,26,23,311 equity shares amounting to Rs 46.52 crores. The issue price is Rs 2 per share, and the face value is Rs 1 per share. This issue will allow existing shareholders to buy Vinny Overseas equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on August 27, 2024 and closes on September 10, 2024. The last Date to buy shares is Tuesday, August 13, 2024. The record date of this new issue is Wednesday, August 14, 2024.

3. How can I apply for the Vinny Overseas Limited Rights Issue?

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

4. How can I check the allotment status of the Vinny Overseas 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 Vinny Overseas Limited Rights Issue?

The main objective of this Vinny Overseas rights issue is to raise funds from the shareholders to run the business and to meet the day-to-day capital needs. This issue will give priority to the existing shareholders who want to buy the shares at a discounted price.

6. What is the record date for the Vinny Overseas Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for August 14, 2024.

7. Where will the Vinny Overseas Limited Right Issue be listed?

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

8. What is the entitlement ratio for the Vinny Overseas Limited Right Issue? 

The entitlement ratio is set at one Rights equity Shares for every 1 fully paid up equity shares held on record date August 14, 2024.

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