01-Mar-2024
2 mins read
On February 28, 2024, the Board of Directors of Veer Energy & Infrastructure Limited convened and resolved to offer 49,87,645 new equity shares at a face value of Rs 10 each, with an additional premium of Rs 12.50 per share. This issuance is structured as a Rights Issue to its current shareholders, priced at Rs 22.50 per share, following a 1:3 ratio, meaning one new equity share is available for every three shares already owned, aiming to raise a total of Rs 11.5 crore.
The latest trading session saw VEER ENERGY & INFRASTRUCTURE LTD.’s shares on the Bombay Stock Exchange (BSE) at Rs 22.77, which decreased from the previous session’s closing of Rs 23.83. Throughout the day, 56,353 shares were traded across 330 transactions. The share price reached a high of Rs 24.42 and dipped to a low of Rs 22.64, with a total trading turnover of Rs 1,302,081.
Veer Energy & Infrastructure Ltd Company Profile
Established in 2006, Veer Energy & Infrastructure Limited is a forefront company in the renewable energy sector, focusing on developing, constructing, and managing projects aimed at reducing carbon emissions and promoting environmental sustainability.
Veer Energy stands out as a prominent developer in the wind energy sector, with its wind energy projects strategically positioned in four Indian states known for their significant wind potential: Gujarat, Rajasthan, Maharashtra, and Tamil Nadu. These projects are distributed across the country, with the company having successfully installed and commissioned more than 200 MW of wind turbines.
For the fiscal years 2021, 2022, and 2023, the company reported total revenues of Rs 6,578.18 lakhs, Rs 6,634.21 lakhs, and Rs 6,598.84 lakhs, respectively.
Financial Performance of Veer Energy & Infrastructure Ltd (Amt in Rs Crore)
Between the fiscal year concluding on March 31, 2023, and the prior year ending March 31, 2022, Veer Energy & Infrastructure Ltd. experienced a revenue growth of 16.94% while its profit after tax (PAT) decreased by 93.3%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 65.99 | 66.34 | 65.78 |
| Revenue | 8.27 | 7.07 | 8.85 |
| Profit After Tax | 0.05 | 0.8 | 0.32 |
Important Details of Veer Energy & Infrastructure Ltd Rights Issue 2024
| Issue Open | Yet to be announced |
| Security Name | Veer Energy & Infrastructure Ltd. |
| Issue Size (Shares) | 4,987,645 |
| Issue Size (Amount) | Rs 11.22 Crores |
| Issue Price | Rs 22.5 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | Yet to be announced |
| Entitlement | 1 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Objectives of Veer Energy & Infrastructure Ltd Rights Issue 2024
The Objectives of Veer Energy & Infrastructure Ltd Rights Issue 2024 are yet to be announced.
Lead Manager(s) of Veer Energy & Infrastructure Rights Issue 2024
The Lead Manager(s) of Veer Energy & Infrastructure Rights Issue 2024 are yet to be announced.
How to Apply for Veer Energy & Infrastructure Ltd Rights Issue 2024
Wait for the public issue to open for subscription, then click here to apply for the Veer Energy & Infrastructure Ltd Rights Issue 2024 with Bigul.
How to Check the Allotment Status of Veer Energy & Infrastructure Ltd Rights Issue 2024
The registrar for Veer Energy & Infrastructure Ltd Rights Issue 2024 is yet to be announced.
FAQs
1. What is the issue size of Veer Energy & Infrastructure Ltd Rights Issue 2024?
The Veer Energy & Infrastructure Ltd Rights Issue 2024 issue size is 4,987,645 shares, amounting to Rs 11.22 crores.
2. What is the issue price for the Rights Issue?
The issue price for Veer Energy & Infrastructure Ltd Rights Issue is Rs 22.5 per share.
3. What is the entitlement ratio for the Rights Issue?
The entitlement ratio for the Rights Issue is 1 Rights Equity Share for every 3 fully paid-up Equity Shares held on the record date.
4. When will the Veer Energy & Infrastructure Ltd Rights Issue 2024 open?
The opening date for the Veer Energy & Infrastructure Ltd Rights Issue 2024 is yet to be announced.
5. How can I apply for the Veer Energy & Infrastructure Ltd Rights Issue 2024?
Once the issue opens, eligible shareholders can apply for the Veer Energy & Infrastructure Ltd Rights Issue 2024 through Bigul or other available platforms, following the instructions provided for the application process.
6. How can I check the allotment status of Veer Energy & Infrastructure Ltd Rights Issue 2024?
The allotment status for the Veer Energy & Infrastructure Ltd Rights Issue 2024 will be available on the website of the issue’s registrar, Bigshare Services Private Limited, once it is announced. Shareholders can check their allotment status by logging into the registrar’s website with their application number or PAN card details.
7. What are the objectives of Veer Energy & Infrastructure Ltd Rights Issue 2024?
The objectives of the Veer Energy & Infrastructure Ltd Rights Issue 2024 have not been announced yet. Typically, companies use the funds raised through rights issues for various purposes such as debt reduction, financing new projects, working capital needs, or expansion plans.
8. Who are the lead managers for the Veer Energy & Infrastructure Rights Issue 2024?
The lead manager(s) for the Veer Energy & Infrastructure Rights Issue 2024 have yet to be announced.
9. Where will the new shares be listed?
The new shares issued through Veer Energy & Infrastructure Ltd Rights Issue 2024 will be listed on the Bombay Stock Exchange (BSE).