19-Feb-2024
2 mins read
Mitsu Chem Plast Limited is coming up with its right issue which will open on Monday, February 26, 2024 and closes on Tuesday, March 5, 2024. The record date is set at Monday, February, 17, 2024. The last date to buy shares is Friday, 16 February, 2024. The issue size is 1,509,075 equity shares and price is set at Rs 144 per share and face value is at Rs 10 per share. The eligible shareholders are being offered one Rights Equity shares for every eight fully paid up equity shares held on a record date. Through this issue the company is planning to raise Rs 21.73 crores. The lead manager of this rights issue is not yet declared, and the registrar is Bigshare Services Private Limited.
About Mitsu Chem Plast Limited
Mitsu Chem Plast Limited incorporated in1990, it specialises in producing plastic products using the blow moulding and injection moulding manufacturing processes. The product portfolio of the company consists of Industrial containers, Healthcare furniture, Automotive components, HDPE jars, Chair parts, Plastic bottles etc.The company has three manufacturing facilities out of which two are situated in Tarapur and other one is situated in Khalapur. The company increased its manufacturing capacity from the third unit of 10872 MTPA to 13179 MTPA. The company products are made through injection moulding and blow moulding. Mitsu Chem Plast also offers customised moulding to fulfil customer needs.
Objectives of Mitsu Chem Plast Rights Issue
The company is likely to use the net funds received from this issue for repayment and prepayment of the in full or part of certain borrowings availed by the company. Moreover, other than this, the funds will be used to fulfil the working capital requirements and general corporate purposes will also be met.
Financial Performance of Mitsu Chem Plast Limited (Amt in Rs Crores)
Between the financial year ending with March 31, 2023 and March 31, 2022. Company’s revenue increased by 19.49% and profit after tax increased by 2.65% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 177.02 | 144.09 | 124.57 |
| Revenue | 309.33 | 258.86 | 179.45 |
| Profit After Tax | 11.8 | 11.5 | 9.69 |
| Reserves and Surplus | 50.35 | 38.84 | 27.58 |
Important Dates for Mitsu Chem Plast Limited Rights Issue
| Issue Open | February 26, 2024 – March 5, 2024 |
| Security Name | Mitsu Chem Plast Ltd |
| Issue Size (Shares) | 1,509,075 |
| Issue Size (Amount) | Rs 21.73 Crores |
| Issue Price | Rs 144 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | Issue price of Rs 144 per Rights Equity Share. The amount of Rs 72 per Rights Equity Share to be paid on Application. |
| Balance to be paid on one call, as may be decided by the Board/ the Rights issue Committee of the Board. | |
| Entitlement | 1 Rights Equity Shares for every eight fully paid-up Equity Shares held on Record Date |
Timetable of Mitsu Chem Plast Limited Rights Issue
| Last Date to buy shares | 16-Feb-24 |
| Record Date | 17-Feb-24 |
| Credit of Rights Entitlements | Not yet announced |
| Bid/Offer Opens On | 26-Feb-24 |
| Renunciation of Rights Entitlements | 29-Feb-24 |
| Bid/Offer Closes On | 5-Mar-24 |
| Deemed Date of Allotment | 12-Mar-24 |
| Credit Date | 13-Mar-24 |
| Listing Date | 15-Mar-24 |
How to Apply for Mitsu Chem Plast Limited Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Mitsu Chem Plast Limited Rights Issue with Bigul.
How to Check Allotment Status of Mitsu Chem Plast Limited Rights Issue?
The registrar for Mitsu Chem Plast Limited Rights Issue is Bigshare Services Private Limited.
FAQs
- What is the Mitsu Chem Plast Limited Rights Issue?
Mitsu Chem Plast Limited is coming up with its right issue which will open on Monday, February 26, 2024 and closes on Tuesday, March 5, 2024. The issue size is 1,509,075 equity shares and price is set at Rs 144 per share and face value is at Rs 10 per share. The eligible shareholders are being offered 1 Rights Equity shares for every 8 fully paid up equity shares held on a record date.
- When does the Rights Issue open and close?
The Rights Issue opens for subscription on February 26, 2024 and closes on March 5, 2024.
- How can I apply for the Mitsu Chem Plast Limited Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.
- How can I check the allotment status of the Mitsu Chem Plast Limited Issue?
The registrar for this right issue is Bigshare Services Private Limited.
- What is the objective of Mitsu Chem Plast Limited Rights Issue?
The company is likely to use the net funds received from this issue for repayment and prepayment of the in full or part of certain borrowings availed by the company. Moreover, other than this, the funds will be used to fulfil the working capital requirements
- What is the record date for the Mitsu Chem Plast Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for February 17, 2024.
- Where will the Mitsu Chem Plast Limited Right Issue be listed?
The Rights Issue will be listed on the BSE.
- What is the entitlement ratio for the Mitsu Chem Plast Limited Right Issue?
The entitlement ratio is set at 1 Rights Equity Shares for every eight fully paid-up Equity Shares held on record date February 17, 2024.