20-Feb-2024
2 mins read
Silgo Retail Limited is coming up with its right issue, which will open on Monday, February 28, 2024, and close on Tuesday, March 12, 2024. The record date is set for Thursday, February 22, 2024. The last date to buy shares is Wednesday, February 21, 2024. The issue size is 10,270,000 equity shares, the price is set at Rs 25 per share, and the face value is at Rs 10 per share. The eligible shareholders are offered 1 Rights Equity share for every 1 fully paid-up equity share held on a record date. Through this issue, the company is planning to raise Rs 25.68 crores. The lead manager of this rights issue is Srujan Alpha Capital Advisors LLP, and the registrar is Bigshare Services Private Limited.
About Silgo Retail Limited
Silgo Retail, founded in 2016, is engaged in the business of design, manufacturing, wholesale and retail of silver jewellery. Moreover, the company also deals in Gemstones. The company’s product portfolio includes bracelets, necklaces, rings, earnings, Jhumki, bangles, and custom jewellery. The company mainly deals in silver jewellery. All of the company’s jewellery is cast from 925 sterling silver. Silgo Retail offers a wide range of traditional, Indian, western and modern designs and silver jewellery. The offerings are specialised in silver jewellery and carry the BIS hallmark. The company’s manufacturing facility is located in Jaipur. Silgo Retail runs a “Dyuti” program to promote entrepreneurship among women in the region. As of September 2023, the company had 20 employees, including Executive Directors and KMP.
Financial Performance of Silgo Retail Limited (Amt in Rs Crore)
The company’s revenue decreased by -1.33%, and profit after tax rose by 2% 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 | 52.11 | 51.19 | 45.16 |
| Revenue | 34.68 | 35.14 | 31.9 |
| Profit After Tax | 2.35 | 2.31 | 2.2 |
Important Dates for Silgo Retail Limited Rights Issue
| Issue Open | February 26, 2024 – March 4, 2024 |
| Security Name | Silgo Retail Ltd |
| Issue Size | 1,509,075 shares |
| Issue Size (Amt) | 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 8 fully paid-up Equity Shares held on Record Date. |
Timetable of Silgo Retail Limited Rights Issue
| Last Date to buy shares | 21-Feb-24 |
| Record Date | 22-Feb-24 |
| Credit of Rights Entitlements | 23-Feb-24 |
| Bid/Offer Opens On | 28-Feb-24 |
| Renunciation of Rights Entitlements | 8-Mar-24 |
| Bid/Offer Closes On | 12-Mar-24 |
| Deemed Date of Allotment | 20-Mar-24 |
| Credit Date | 20-Mar-24 |
| Listing Date | 26-Mar-24 |
Objectives of Silgo Retail Limited Rights Issue
The net proceeds from this Rights Issue will be utilised to repay unsecured loans availed by one of the promoters. Moreover, the proceeds will be used for the repayment and prepayment of certain secured loans availed from the lender of the company. Other than this, the incremental working capital requirements will also be met, and general corporate purposes will be fulfilled.
How to Apply for Silgo Retail Limited Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Silgo Retail Limited Rights Issue with Bigul.
How to Check the Allotment Status of Silgo Retail Limited Rights Issue?
The registrar for Silgo Retail Limited Rights Issue is Bigshare Services Private Limited.
FAQs
- What is the Silgo Retail Limited Rights Issue?
Silgo Retail Limited is coming up with its right issue, which will open on Monday, February 28, 2024, and close on Tuesday, March 12, 2024. The record date is set for Thursday, February 22, 2024. The last date to buy shares is Wednesday, February 21, 2024. Through this issue, the company is planning to raise Rs 25.68 crores.
- When does the Rights Issue open and close?
The Rights Issue opens for subscription on February 28, 2024, and closes on March 12, 2024.
- How can I apply for the Silgo Retail 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 Silgo Retail Limited Issue?
The registrar for this right issue is Bigshare Services Private Limited. You can check the allotment status by clicking here.
- What is the objective of Silgo Retail Limited Rights Issue?
The net proceeds from this Rights Issue will be utilised for the repayment of unsecured loans availed by one of the promoters—moreover, the repayment and prepayment of certain secured loans availed from the lender of the company.
- What is the record date for the Silgo Retail Limited Rights Issue?
The record date, which is the Date to determine the shareholders eligible for the Rights Issue, is set for February 22, 2024.
- Where will the Silgo Retail Limited Right Issue be listed?
The Rights Issue will be listed on the NSE.
- What is the entitlement ratio for the Silgo Retail Limited Right Issue?
The entitlement ratio is set at 1 Rights Equity Share for every one fully paid-up Equity Share held on the record date of February 22, 2024.