26-Sep-2023
2 mins read
Dollex Agrotech Limited, a manufacturer and trader of sugar, is soon launching a rights issue valued at Rs. 49 Crores. The subscription period for this rights issue will commence shortly. The company plans to allocate 1 rights share for every 2 fully paid shares held by shareholders on the record date, which has not been disclosed yet. Each share has a face value of Rs. 10, and the issue price remains undisclosed at this time. The company intends to venture into ethanol production as part of the EBP program initiated by the Ministry of Petroleum and Natural. In the long run, they also anticipate an expansion in supply due to the establishment of primary distillation plants by additional sugar producers and the construction of new sugar mills as integrated cogeneration facilities.
Dollex Agrotech Limited Company Profile
Established in the year 2013, Dollex Agrotech Limited is a homegrown enterprise specialising in sugar production and trading.
The company is primarily engaged in the manufacture of Jaggery, an unrefined sugar derivative, and Khandsari sugar, which is physically extracted from liquid jaggery. Additionally, Dollex Agrotech is involved in the production and sale of sugar-related by-products, including molasses, pressmud, and bagasse. Notably, the bagasse waste material is utilised for power generation purposes.
Situated in Datia, Madhya Pradesh, Dollex Agrotech operates a plant with a crushing capacity of 2500 TCD (Tonnes Crushed Daily). Furthermore, the company has secured in-principle approval from the Department of Food & Public Distribution, Government of India, for the establishment of distilleries with a capacity of 200 KLPD (Kiloliters Per Day).
Dollex Agrotech boasts a dedicated workforce of over 400 employees.
Financials of Dollex Agrotech Limited
| Period Ended | 31-Mar-19 | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 |
| Assets | 70.74 | 88.85 | 104.99 | 113.56 |
| Revenue | 18.44 | 25.9 | 77.48 | 79.63 |
| Profit After Tax | 0.67 | 0.58 | 1.67 | 3.27 |
Important Dates of Dollex Agrotech Limited Right Issue
| Issue Open | Yet to be announced |
| Security Name | Dollex Agrotech Limited |
| Issue Size (Shares) | Yet to be announced |
| Issue Size (Amount) | Rs 49.00 Crores |
| Issue Price | Yet to be announced |
| Face Value | Rs 10 per share |
| Listing At | NSE |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Purpose of the Issue
Purpose of the issue is yet to be announced.
FAQ of Dollex Agrotech Limited Rights Issue
- What is a rights issue, and how does it work?
A rights issue is a way for a company to raise capital by offering existing shareholders the opportunity to purchase additional shares at a predetermined price. In the case of Dollex Agrotech Limited, shareholders will be given the option to buy one rights share for every two fully paid shares they currently hold.
- When will the subscription period for the rights issue commence?
The subscription period details are yet to be announced.
- What is the face value of Dollex Agrotech Limited’s shares?
Each share of Dollex Agrotech Limited has a face value of Rs. 10.
- How much is the rights issue valued at?
The rights issue is valued at Rs. 49 Crores, although the number of shares to be offered in the issue has not been announced.
- Where can I find information about the issue price of the rights shares?
As of now, the issue price for the rights shares has not been disclosed. The company is expected to announce the issue price closer to the commencement of the subscription period.
- What is the purpose of Dollex Agrotech Limited’s rights issue?
The purpose of the rights issue has not been announced yet. Shareholders should await further details from the company regarding the specific objectives and utilization of the funds raised through this rights issue.
- Where will the shares from this rights issue be listed?
The shares issued through the Dollex Agrotech Limited rights issue will be listed on the National Stock Exchange (NSE) once the issue is completed and the shares are allotted.