06-Jan-2024
2 mins read
Grasim Industries revealed its decision to launch a rights issue consisting of 22 million shares, valued at approximately Rs 3,999.80 crore. The shares are offered at Rs 1,812 each, which represents a 12% reduction from the current market price of Rs 2,068.6. The announcement, made through a statement to the stock exchange, indicated that the company’s board of directors had approved the rights issue terms in a recent meeting. Grasim Industries has designated January 10, 2024, as the key date for determining shareholder eligibility for the issue. The subscription period for this rights issue is scheduled to start on January 17, 2024, and end on January 29, 2024.
Grasim Industries Product Portfolio
Founded in 1947, Grasim Industries Limited, headquartered in Mumbai, India, specializes in textile manufacturing. The company’s product range includes Viscose, a variety of chemicals, and linen yarn and fabrics. Recently, Grasim has ventured into the paint industry, launching ‘Birla Opus’ as its new brand. The company is also in the process of establishing six manufacturing facilities for decorative paints in different Indian locations. Grasim is committed to generating sustainable value for its employees, shareholders, the community, and its customers. In the fiscal year 2023, Grasim achieved a consolidated net revenue of Rs 1,17,627 Crore and an EBITDA of Rs 20,478 Crore.
Financial Performance of Grasim Industries Ltd (In Rs Crore)
Between the fiscal years ending March 31, 2023, and March 31, 2022, Grasim Industries Ltd. experienced a 28.69% rise in revenue, while its profit after tax (PAT) witnessed a decrease of 30.38%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | |||
| Revenue | 26,840.00 | 20,857.00 | 12,386.00 |
| Profit After Tax | 2,124.00 | 3,051.00 | 905 |
| Net Worth | 46,955.00 | 48,616.00 | 42,948.00 |
| Reserves and Surplus | 46,823.00 | 48,484.00 | 42,816.00 |
Important Details of Grasim Industries Ltd Rights Issue
| Issue Open | January 17, 2024 – January 29, 2024 |
| Security Name | Grasim Industries Ltd. |
| Issue Size (Shares) | 22,073,935 |
| Issue Size (Amount) | Rs 3,999.80 Crores |
| Issue Price | Rs 1812 per share |
| Face Value | Rs 2 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The amount of Rs 453 per Rights Equity Share is to be paid on the Application. The balance of Rs 1,359 will be paid on up to three subsequent calls as determined by the Board. |
| Entitlement | 6 Rights Equity Share(s) for every 179 fully paid-up Equity Shares held on Record Date |
Tentative Timetable of Grasim Industries Ltd Rights Issue
| Last Date to buy shares | 9-Jan-24 |
| Record Date | 10-Jan-24 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 17-Jan-24 |
| Renunciation of Rights Entitlements | 23-Jan-24 |
| Bid/Offer Closes On | 29-Jan-24 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
Lead Managers of Grasim Industries Ltd Rights Issue
The Lead Managers of Grasim Industries Ltd Rights Issue are yet to be announced.
How to Apply for Grasim Industries Ltd Rights Issue
Wait for the public issue to open for subscription, then click on this link to apply for the Grasim Industries Ltd Rights Issue with Bigul https://www.bonanzaonline.com/
How to Check Allotment Status of Grasim Industries Ltd Rights Issue
The registrar for Grasim Industries Ltd Rights Issue is yet to be announced. You can check the company website for allotment once it is announced.
FAQs
- What are the details of the Grasim Industries Ltd Rights Issue 2024?
- The Grasim Industries Ltd Rights Issue 2024 is an offer for existing shareholders to purchase additional shares. The company plans to issue 22 million shares at Rs 1,812 each, aiming to raise about Rs 3,999.80 crore. This issue represents a 12% discount on the current market price.
- When is the Rights Issue scheduled, and what are the key dates?
- The Rights Issue opens on January 17, 2024, and closes on January 29, 2024. The record date for determining shareholder eligibility is set for January 10, 2024. The last date to buy shares to be eligible for the issue is January 9, 2024.
- How can shareholders apply for the Grasim Industries Ltd Rights Issue?
- Shareholders can apply for the issue once it opens for subscription. An application can be made through the link provided by Bigul here.
- What are the terms of payment for the Rights Issue?
- For the Rights Issue, an initial payment of Rs. 453 per Rights Equity Share is required upon application. The remaining balance of Rs 1,359 is payable in up to three subsequent instalments, as determined by the Board.
- How can I check the allotment status of the Grasim Industries Ltd Rights Issue?
- The allotment status can be checked on the Grasim Industries website once the registrar for the Rights Issue is announced and the allotment is completed. Keep an eye on the company’s official communication for updates.