05-Dec-2023
2 mins read
In their recent meeting, the Board of Directors of Asit C. Mehta Financial Services Limited came to a resolution to raise funds through a Rights Issue of Equity Shares. The capital infusion would be directed towards the company’s existing equity shareholders on December 7, 2023, the record date and capped at Rs 49.88 Crore in compliance with the prevailing laws.
The Board has proposed the issuance of up to 3,293,452 Equity Shares at a per share price of Rs 151.4. Each eligible equity shareholder would be entitled to purchase 133 new equity shares for 200 shares they already hold, based on the stated Rights Entitlement Ratio.
Asit C. Mehta Financial Services Limited Product Portfolio
Established in 1984, Asit C Mehta specializes in providing advisory and consultancy services across various sectors, focusing on fund mobilization, company restructuring, and property rentals.
Business Segments: The Company operates through four key segments:
- Advisory and Consultancy: Asit C Mehta offers a range of advisory services encompassing investment strategies, financial planning, NRI solutions, and high net-worth individual solutions. Additionally, it provides trade execution platforms catering to diverse client needs.
- Investment Activities: With a focus on retail and institutional services, the company engages in investment banking, offering equity, debt, and forex services. This segment also includes valuation services like ESOP and asset valuations.
- Information Technology: As part of its diverse portfolio, the company provides Information Technology Enabled Services (ITeS) catering to companies in the banking, financial services, and insurance sectors. It aids in executing various business processes for these entities.
- Stock Broking and Allied Services: Asit C Mehta offers stock broking services along with a range of allied services. This includes digital marketing campaigns aimed at providing comprehensive support to its clientele.
Service Offerings: The array of services provided by Asit C Mehta encompasses:
- Retail Services: Ranging from investment advisory and execution to financial planning, the company caters to a broad spectrum of individual client needs.
- Institutional Services: Providing equity, debt, and forex services tailored for institutional clients seeking comprehensive financial solutions.
- Investment Banking: Offering diverse investment banking services to facilitate fund mobilization and company restructuring.
- Valuation Services: This includes ESOP and asset valuations aimed at assisting companies in assessing their financial positions accurately.
- Digital Marketing: Engaging in digital marketing campaigns, the company extends its services beyond traditional financial offerings.
Financial Performance of Asit C. Mehta Financial Services Limited (Rs in Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 15,929.18 | 17,033.62 | 15,963.42 |
| Revenue | 3,383.24 | 4,154.08 | 3,923.65 |
| Profit After Tax | -931.25 | 146.33 | 225.69 |
| Reserves and Surplus | 1,647.92 | 2,220.96 | 3,991.65 |
Important Dates for Asit C. Mehta Financial Services Limited Rights Issue
| Issue Open | December 15, 2023 – December 22, 2023 |
| Security Name | Asit C. Mehta Financial Services Limited |
| Issue Size (Shares) | 3,293,452 |
| Issue Size (Amount) | Rs 49.88 Crores |
| Issue Price | Rs 151.4 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | Full amount of Rs 151.44 per Unit shall be payable on Application |
| Entitlement | 133 Rights Equity Share(s) for every 200 fully paid-up Equity Shares held on Record Date |
Asit C. Mehta Rights Issue Timetable
| Last Date to buy shares | 6-Dec-23 |
| Record Date | 7-Dec-23 |
| Bid/Offer Opens On | 15-Dec-23 |
| Renunciation of Rights Entitlements | 19-Dec-23 |
| Bid/Offer Closes On | 22-Dec-23 |
| Deemed Date of Allotment | 28-Dec-23 |
| Credit Date | 2-Jan-24 |
| Listing Date | 3-Jan-24 |
Lead Managers for Asit C. Mehta Financial Services Limited Rights Issue
The lead manager for Asit C. Mehta Financial Services Limited Rights Issue is yet to be announced.
How to Apply for Asit C. Mehta Financial Services Limited Rights Issue
Wait for the public issue to open for subscription, and then click on this link to apply for the Asit C. Mehta Financial Services Limited Rights Issue with Bigul: https://bigul.co/open-account.
How to Check the Allotment Status of Asit C. Mehta Financial Services Limited Rights Issue
The registrar for Asit C. Mehta Financial Services Limited Rights Issue is yet to be announced.
FAQs
1. What is the upcoming Rights Issue by Asit C. Mehta Financial Services Limited?
Asit C. Mehta Financial Services Limited has decided to raise funds by offering a Rights Issue of Equity Shares. The aim is to infuse capital up to Rs 49.88 Crore from the company’s existing equity shareholders.
2. How many Equity Shares will be issued, and at what price?
The Board of Asit C. Mehta Financial Services Limited has proposed issuing up to 3,293,452 Equity Shares. The price per share has been set at Rs 151.4.
3. What is the Rights Entitlement Ratio for the issue?
The Rights Entitlement Ratio is set at 1.33:2, meaning that each eligible equity shareholder would be entitled to purchase 133 new shares for every 200 shares they held on Record Date.
4. Who are the lead managers for the Rights Issue?
The lead manager for the Rights Issue is yet to be announced.
5. What is the financial performance of Asit C. Mehta Financial Services Limited?
Financial highlights include growth in total assets, total revenue, profit after tax, and reserves and surplus from 2021 to 2023, as provided in the provided data. Asit C. Mehta Financial Services Limited’s revenue fell by 18.56%, and PAT dropped by 736.4% from the financial year ending on March 31, 2022 to March 31, 2023.
6. What are the important dates related to the Rights Issue?
The issue opening date is from December 15, 2023 to December 22, 2023.
7. How can I apply for the Asit C. Mehta Financial Services Limited Rights Issue?
Once the public issue opens for subscription, you can apply for the Asit C. Mehta Financial Services Limited Rights Issue via this link: https://bigul.co/open-account.
8. How can I check the allotment status of Asit C. Mehta Financial Services Limited Rights Issue?
The registrar for the Rights Issue is yet to be announced.
Please stay updated for the latest information.