13-Sep-2023
2 mins read
Varanium Cloud Limited plans to launch a rights offering of 4,020,574 equity shares, aiming to raise Rs 49.45 crore. The timetable for the subscription window has not been announced yet. Shareholders will be entitled to one new share for every ten shares they own, per the September 15, 2023 records. Each share has a face value of Rs 5, and the shares in this offering will be priced at Rs 123 each.
Varanium Cloud Limited Company Profile
Established in 2017 and formerly known as Streamcast Cloud, Varanium Cloud Limited is a tech firm specialising in a range of digital services. These include audio and video streaming, financial blockchain-based services for payment facilitation, and more.
Business Segments of Varanium Cloud:
- The company specialises in delivering digital audio and video streaming solutions to various clientele, including telecom operators and content creators, on a national and international scale. These offerings function under a Software-as-a-Service (SaaS) model, encompassing both Voice and Video over Internet Protocol (VoIP) for business-to-business (B2B) and business-to-consumer (B2C) segments.
- It also offers online payment gateway services, PayFac, which simplify transactions primarily for consumers in less urbanised areas.
- In the educational technology (EdTech) sphere, Varanium Cloud provides low-bandwidth digital learning platforms equipped with comprehensive Learning Management Systems (LMS). This service, branded as Edmission, focuses on serving communities in non-urban regions.
- Additionally, the company assists startups and small-to-medium enterprises (SMEs) in digitally transforming their operations. These services are offered through an Infrastructure As A Service (IaaS) model.
Product Offerings of Varanium Cloud: The company’s suite of products includes Edmission, a hybrid (physical and digital) platform that connects educators and learners online. They also offer Jumptalk, a cloud-based video and audio conferencing, webinars, and file sharing service. Their Payfac service aims to provide aggregate payment gateways for non-urban areas. Varanium Cloud also has Infrastructure as a Service (IaaS) offerings, which include solutions like Hydra Web Services, Corporate and public WiFi Mesh Services, and eCommerce as a Service (EaaS).
Varabium Cloud Limited Financial Information
| Period Ended | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 7.65 | 8.33 | 40.67 | 183.99 |
| Revenue | 0.12 | 4.2 | 35.35 | 383.37 |
| Profit After Tax | -1.49 | 1.42 | 8.4 | 85.46 |
| Reserves and Surplus | -1.04 | 0.37 | 8.77 | 91.22 |
Varanium Cloud Limited Rights Issue 2023 Detail
| Issue Open | Yet to be announced |
| Security Name | Varanium Cloud Limited |
| Issue Size (Shares) | 4,020,574 |
| Issue Size (Amount) | Rs 49.45 Crores |
| Issue Price | Rs 123 per share |
| Face Value | Rs 5 per share |
| Listing At | NSE |
| Terms of Payment | Shareholders are required to make an initial payment of Rs 2.50 when applying. Additional payments of Rs 2.50 will be due at one or more future dates, as specified by the Board. |
| Entitlement | 1 rights share will be offered for every 10 fully paid-up equity shares owned as of the record date. |
Varanium Cloud Rights Issue 2023 Issue Timetable
| Last Date to buy shares | 14-Sep-23 |
| Record Date | 15-Sep-23 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | Yet to be announced |
| Renunciation of Rights Entitlements | Yet to be announced |
| Bid/Offer Closes On | Yet to be announced |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
Purpose of the Issue
Strengthening Financial Foundations: The goal of using the raised capital is to bolster the company’s financial backbone, specifically to expand its operations in the Non-Banking Financial Company (NBFC) sector.
Corporate Operations Funding: The collected funds will be directed toward general corporate uses, facilitating a range of operational activities and projects.
FAQs
- What is Varanium Cloud Limited’s Rights Issue?
Varanium Cloud Limited is planning a rights offering of 4,020,574 equity shares to raise Rs 49.45 crore. The company has not yet released the dates for the subscription window. Each share will be priced at Rs 123, with a face value of Rs 5.
- What is the entitlement for existing shareholders?
Existing shareholders will have the opportunity to acquire one additional share for every ten fully paid-up shares they hold as of the record date on September 15, 2023.
- What are the financial details for Varanium Cloud Limited?
As of the end of the fiscal year on March 31, 2023, the company has assets totalling 183.99 crores, revenues of 383.37 crores, and a net profit after tax of 85.46 crores.
- What are the company’s business verticals?
Varanium Cloud Limited provides a variety of digital services, including digital audio and video streaming, online payment facilitation known as PayFac, low-bandwidth educational platforms under the brand Edmission, and Infrastructure as a Service (IaaS) solutions for startups and SMEs.
- Where will the shares be listed?
The shares from this rights issue will be listed on the NSE.
- What is the last date to buy shares to be eligible for the rights issue?
The last date to purchase shares and be eligible for the rights issue is September 14, 2023.
- When will the credit of rights entitlements be announced?
The date for the credit of rights entitlements has not yet been announced.
- When will the shares be listed?
The listing date for the shares acquired through the rights issue is yet to be announced.
- Is there an option to renounce my rights entitlement?
The date and procedure for the renunciation of rights entitlements have not been announced yet.
- When will the bid/offer for the rights issue open and close?
The exact dates for the opening and closing the bid/offer for the rights issue have not been announced.