27-Feb-2024
2 mins read
The Rights Issue Committee of Mercury Trade Links Limited’s Board of Directors convened to finalise and approve the specifics of a forthcoming rights issue. The company plans to issue a total of 2,475,000 fully paid-up equity shares, each with a face value of Rs 10, at an issue price of Rs 40 per share, culminating in a total raise of Rs 990 million. This issue price includes a premium of Rs 30 above the face value.
The rights issue has been structured to offer ten new shares for every share currently held by eligible shareholders, with the record date for determining such eligibility set for Friday, 1st March 2024. Interested shareholders are invited to participate in the issue, which will open on Monday, 11, March 2024, and close on Thursday, March 21 March, 2024. Payment for the shares, priced at Rs 40 each, is required at the time of application.
Before this rights issue, Mercury Trade Links Limited had 247,500 equity shares outstanding. Following the completion of the issue, the total will increase to 2,722,500 equity shares. This expansion reflects the company’s strategy to bolster its equity base and support its growth initiatives.
Mercury Trade Links Company Portfolio
Founded in 1985, Mercury Trade Links Limited is a dynamic entity engaged in the commerce of a diverse array of agricultural commodities. The company’s portfolio encompasses a broad spectrum of agro-based products, including fertilisers, manures, and various types of plant and animal nutrition solutions. Additionally, it trades in a variety of pesticides, covering categories such as insecticides, herbicides, and fungicides. Beyond these, Mercury Trade Links has an extensive involvement in the agricultural sector, dealing with a wide assortment of crops and seeds. This includes but is not limited to, rice, maise, milo, various seeds, cotton seeds, soybeans, peanuts, castor beans, linseeds, sunflowers, coconuts, rapeseeds, almonds, sesame seeds, mustard seeds, sea seeds, and grape seeds, positioning the company as a significant player in the agro-products trading space.
Financial Performance of Mercury Trade Links
Between the fiscal year ending on March 31 March 2023, and the previous year ending on March 31 March 2022, Mercury Trade Links Ltd. experienced a remarkable surge in its financial performance. The company’s revenue witnessed an exponential growth of 1751.16%, while its profit after tax (PAT) saw a substantial increase of 106.44%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 0.7 | 0.41 | 0.52 |
| Revenue | 0.48 | 0.03 | 0.65 |
| Profit After Tax | 0.01 | -0.1 | 0.07 |
| Reserves and Surplus | 0.16 | 0.16 | 0.26 |
Important Details for Mercury Trade Links Rights Issue 2024
| Issue Open | March 11, 2024 – March 21, 2024 |
| Security Name | Mercury Trade Links Ltd. |
| Issue Size (Shares) | 2,475,000 |
| Issue Size (Amount) | Rs 9.90 Crores |
| Issue Price | Rs 40 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | Yet to be announced |
| Entitlement | 10 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Timetable of Mercury Trade Links Rights Issue 2024
| Last Date to buy shares | 29-Feb-24 |
| Record Date | 1-Mar-24 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | 11-Mar-24 |
| Renunciation of Rights Entitlements | Yet to be announced |
| Bid/Offer Closes On | 21-Mar-24 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
Objectives of Mercury Trade Links Rights Issue 2024
The objectives of the Mercury Trade Links Rights Issue 2024 are yet to be announced.
Lead Manager(s) of Mercury Trade Links Rights Issue 2024
The Lead Manager(s) of Mercury Trade Links Rights Issue 2024 are yet to be announced.
How to Apply for Mercury Trade Links Rights Issue 2024?
Wait for the public issue to open for subscription, then click here to apply for the Mercury Trade Links Rights Issue 2024 with Bigul.
How to Check Allotment Status of Mercury Trade Links Rights Issue 2024?
The registrar for Mercury Trade Links Rights Issue 2024 is yet to be announced.
FAQs
- Who is eligible to participate in the rights issue?
Shareholders who own shares of Mercury Trade Links Limited as of the record date, Friday, 1 March 2024, are eligible to participate in the rights issue.
- What is the entitlement ratio for the rights issue?
The entitlement ratio for the rights issue is ten new shares for every one share currently held by eligible shareholders.
- When does the rights issue open and close?
The rights issue opens on Monday, 11 March 2024, and closes on Thursday, March 21 March 2024.
- How much do I need to pay for each share under the rights issue?
Each share under the rights issue is priced at Rs 40, which is to be paid at the time of application.
- What will be the total number of equity shares after the rights issue?
Following the completion of the rights issue, the total number of equity shares of Mercury Trade Links Limited will increase from 247,500 to 2,722,500.
- How can I apply for the Mercury Trade Links Rights Issue 2024?
Once the public issue opens for subscription, you can apply for the Mercury Trade Links Rights Issue 2024 through the platform provided by Bigul or through other designated application channels.
- How to check the allotment status of Mercury Trade Links Rights Issue 2024?
The allotment status for the Mercury Trade Links Rights Issue 2024 can be checked through the official website of the registrar once it’s announced. The details of the registrar will be made available at the time of the issue.
- What are the financial highlights of Mercury Trade Links Ltd. for the year ending 31 March 2023?
For the year ending 31 March 2023, Mercury Trade Links Ltd. saw its revenue increase by 1751.16%, and its profit after tax (PAT) rose by 106.44% compared to the previous year.
- What are the main business activities of Mercury Trade Links Limited?
Mercury Trade Links Limited is engaged in trading a variety of agricultural commodities, including fertilisers, manures, pesticides (insecticides, herbicides, fungicides), and a wide range of crops and seeds like rice, maise, soybeans, peanuts, and many more, making it a significant player in the agro-products trading space.