16-Jan-2024
2 mins read
Shree Ajit Pulp and Paper Limited is soon launching a rights issue available for subscription via the BSE platform. For this, the record date is set for January 18, 2024. The bidding process will open on January 30, 2024 and will go on till February 20, 2024. In between the date of Right entitlement is set on February 16, 2024. The issue price is decided at Rs 80 per share.
Shree Ajit Pulp and Paper Product Portfolio
Established in March 1995, Shree Ajit Pulp and Paper Limited specializes in manufacturing high-quality Kraft Paper. Annually, the company produces over 108,000 metric tons of various paper types, including Kraft Paper, Test Liner, Multilayer Testliner, and Fluting Medium Paper.
The product range of Shree Ajit Pulp and Paper Limited spans a variety of kraft papers, distinguished by a GSM (Grams per Square Meter) range of 80 to 300 GSM and a BF (Burst Factor) range from 20 BF to 35 BF. The kraft paper is offered in two distinct shades: a Natural Shade and a signature Golden Yellow Shade, known as the Ajit Gold Shade. These papers are primarily used in the creation of packaging boxes, cartons, paper bags, and similar products, all crafted from 100% recycled materials.
Shree Ajit Pulp and Paper Limited operates two production facilities. The first, Unit – I, is situated at Survey No. 239, village Salvav, Morai, near the Morai Railway Crossing in Vapi, Valsad. This unit boasts an installed capacity of 120,000 MTPA (Metric Tons Per Annum). The second unit, known as Unit – II, located at Plot No. 1 and 1/B, Phase I, GIDC, Vapi, has a capacity of 82,500 MTPA. Unit – II is a recent addition to the company’s assets, commencing commercial production on July 17, 2023.
As of August 31, 2023, Shree Ajit Pulp and Paper Limited employs a dedicated workforce of 328 full-time employees.
The Objectives of Shree Ajit Pulp and Paper Rights Issue 2024
Shree Ajit Pulp and Paper Limited aims to allocate the total funds acquired from the Issue towards specific objectives. These include addressing the company’s long-term working capital needs and ensuring a stable and efficient operation. Additionally, a portion of these funds will be directed towards general corporate purposes, supporting the broader strategic and operational goals of the company. This financial strategy is designed to bolster the company’s overall growth and sustainability in the long run.
Financial Performance of Shree Ajit Pulp and Paper (In Rs Crore)
For the financial year concluding on March 31, 2023, Shree Ajit Pulp and Paper Limited experienced a downturn in its financial performance compared to the previous year ending March 31, 2022. The company reported a decrease in revenue by 11.19% and a reduction in its profit after tax (PAT) by 20.09%.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 428.69 | 281.74 |
| Revenue | 372.29 | 419.21 |
| Profit After Tax | 25.27 | 31.63 |
| Net Worth | 207.81 | 187.62 |
| Reserves and Surplus | ||
| Total Borrowing |
Important Details for Shree Ajit Pulp and Paper Rights Issue 2024
| Issue Open | January 30, 2024 – February 20, 2024 |
| Security Name | Shree Ajit Pulp and Paper Limited |
| Issue Size (Shares) | 4,375,000 |
| Issue Size (Amount) | Rs 35.00 Crores |
| Issue Price | Rs 80 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | The issue price of Rs 80/- is to be paid as Rs 48/- per share on the application and Rs 32/- per share on the first and final calls |
| Entitlement | 2 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Timetable of Shree Ajit Pulp and Paper Rights Issue 2024
| Last Date to buy shares | 17-Jan-24 |
| Record Date | 18-Jan-24 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | January 30, 2024 |
| Renunciation of Rights Entitlements | February 16, 2024 |
| Bid/Offer Closes On | February 20, 2024 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
Lead Manager(s) for Ajit Pulp and Paper Rights Issue 2024
The lead manager for Ajit Pulp and Paper Rights Issue 2024 is Vivro Financial Services Private Limited.
How to Apply for Shree Ajit Pulp and Paper Rights Issue 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Shree Ajit Pulp and Paper Rights Issue 2024 with Bigul https://www.bonanzaonline.com/.
How to Check Allotment Status of Shree Ajit Pulp and Paper Rights Issue 2024
The registrar for Shree Ajit Pulp and Paper Limited Rights Issue 2024 Issue is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/mipo/ipoallotment.html.
FAQs
- What is Shree Ajit Pulp and Paper Limited Rights Issue 2024?
The Rights Issue 2024 is an offering by Shree Ajit Pulp and Paper Limited that allows existing shareholders to purchase additional shares directly from the company. This is typically done at a discount to the current market price.
- When will the Shree Ajit Pulp and Paper Rights Issue 2024 open?
The opening date of the Rights Issue is January 30, 2024 – February 20, 2024.
- What is the record date for the Rights Issue?
The record date for determining eligible shareholders for the Rights Issue is set for January 18, 2024.
- How can I apply for this Rights Issue?
Once the issue is open for subscription, you can apply for the Rights Issue through the link (https://www.bonanzaonline.com/).
- How is the Issue Price structured?
The issue price is Rs 80 per share. This amount is to be paid in two parts: Rs 48 per share at the time of application and Rs 32 per share during the first and final calls.
- What are the key financial figures for Shree Ajit Pulp and Paper Limited?
As of March 31, 2023, the company reported assets worth Rs 428.69 crore, revenue of Rs 372.29 crore, and a profit after tax of Rs 25.27 crore.
- How can I check the allotment status of the Rights Issue?
The allotment status can be checked by visiting the Link Intime India Private Ltd website: https://linkintime.co.in/mipo/ipoallotment.html.
- Where will the Rights Issue shares be listed?
The shares from this Rights Issue will be listed on the BSE (Bombay Stock Exchange).
- What are the objectives of this Rights Issue?
The proceeds from this issue are intended to meet long-term working capital requirements and for general corporate purposes, aiding in the company’s growth and operational efficiency.
- Who is the lead manager for the Rights Issue?
Vivro Financial Services Private Limited is the lead manager for the Rights Issue 2024.