VSF Projects Limited Rights Issue: Things to Know Before Investing

VSF Projects Limited is coming with its rights issue in the coming week. The bid opens on June 5, 2024 and closes on June 20, 2024. The last date to buy shares is Thursday, May 23, 2024. The record date of this new issue is Friday, May 24, 2024. The issue size is of 9,865,121 equity shares amounting to Rs 49.33 crores. The issue price is Rs 50 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy VSF Projects equity shares at a discounted price. VSF Projects's share price is Rs 85 per share. The eligible shareholders are being offered three Rights Equity shares for every two fully paid-up equity shares held on a May 24, 2024, record date. The payment terms are decided as the full amount of Rs 50 per share is payable on application. Through this rights issue, the company plans to raise Rs 49.33 crores. The registrar for this issue is Purva Sharegistry India Private Limited. The lead managers for this issue have yet to be announced. 

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About VSF Projects Limited

VSF Projects Limited, founded in June 1992, is a company focused on integrated construction and infrastructure development and execution. Since 2005, VSF Projects has completed various civil projects for the Road and Buildings and PWD Departments of Karnataka. The company has successfully undertaken projects such as National Highways, State Highways, Flyovers, and bridges. VSF’s team specialises in executing infrastructure projects on a turnkey basis. As of January 2024, the company has a team of 12 department employees. 

Objectives of VSF Projects Rights Issue

This issue aims to fund the capital expenditure expenses for constructing a Multi-product Free Trade Warehouse Zone with an inland Container Depot. The funds will also be used to adjust unsecured loans against promoters' right entitlement and meet general corporate purposes. 

Financials Details of VSF Projects Limited  (Amt in Rs Crores)

VSF Projects Limited posted a revenue of Rs 1.63 crore and net profit of Rs 0.01 crore for the period ending on 31 March 2023. The company’s revenue decreased by -0.98 and PAT increased by 117.89% between the FY ending on 31 March 2023 and 31 March 2022.

Important Details for VSF Projects Limited Rights Issue

Timetable of VSF Projects Limited Rights Issue

How to Apply for VSF Projects Limited Rights Issue?

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

How do you check the allotment status of the VSF Projects Limited Rights issue?

The registrar for this upcoming rights issue is Purva Sharegistry India Private Limited.

Investors can check the allotment by visiting here.

FAQs

1. What are the details of VSF Projects Limited Rights Issue?

The issue size is of 9,865,121 equity shares amounting to Rs 49.33 crores. The issue price is Rs 50 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy VSF Projects equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on June 5, 2024 and closes on June 20, 2024. The last date to buy shares is Thursday, May 23, 2024. The record date of this new issue is Friday, May 24, 2024.

3. How can I apply for the VSF Projects 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 VSF Projects Limited Issue?

The registrar for this upcoming rights issue is Purva Sharegistry India Private Limited.

Investors can check the allotment by visiting here.

5. What is the objective of VSF Projects Limited Rights Issue?

This issue aims to fund the capital expenditure expenses for constructing a Multi-product Free Trade Warehouse Zone with an inland Container Depot. The funds will also be used to adjust unsecured loans against promoters' right entitlement and meet general corporate purposes. 

6. What is the record date for the VSF Projects Limited Rights Issue?

The record date, which determines the shareholders eligible for the Rights Issue, is set for May 24, 2024.

7. Where will the VSF Projects Limited Right Issue be listed?

The Rights Issue will be listed on the BSE.

8. What is the entitlement ratio for the VSF Projects Limited Right Issue? 

The entitlement ratio is set at three Rights equity Shares for every two fully paid-up equity shares held on record date May 24, 2024. 

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