30-Jan-2024
2 mins read
Yarn Syndicate Limited is coming up with its rights issue which will open on Tuesday, February 6, 2024 and close on Wednesday, February 21, 2024. The record date is set on Tuesday, January 24, 2024. The issue size is of 18,000,000 equity shares and price is set at Rs 27 per share and face value is at Rs 10 per share. The eligible shareholders are being offered 24 Rights Equity shares for every 5 fully paid up equity shares held on a record date. Through this issue the company is planning to raise Rs 48.60 crores.
About Yarn Syndicate Limited Profile
Yarn Syndicate Limited is engaged in the business of dealing in all types of Yarn. Company is incorporated in 1945, it is in business for more than 70 decades and management successfully continues it. Yarn Syndicate is an exporter of Cotton yarn, polyester cotton yarn, polyester viscose yarn, flax yarn, jute yarn, organic yarn, bamboo yarn etc. The company has become one of the largest merchant exporters of cotton and other varieties of Yarn. In the past many decades, Company has constantly strived to get new customers while maintaining its relations with existing customers and manufacturers. The company is committed to maintaining the highest standards in terms of quality of products and delivery products on time. The portfolio includes cotton yarn, synthetic yarn, blended yarn, heather yarn, woven fabric and knitted fabric.
Financial Performance of Yarn Syndicate Limited
Between the financial year ending with March 31, 2023 and March 31, 2022, Company’s revenue decreased by -95.07% and profit after tax declined by -139.85%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 0.18 | 0.45 | 0.36 |
| Revenue | 0.03 | 0.6 | 0 |
| Profit After Tax | -0.16 | 0.4 | 0.35 |
| Net Worth | |||
| Reserves and Surplus | -4.17 | -4.01 | -4.41 |
| Amt in crores |
Important Dates for Yarn Syndicate Limited Rights Issue
| Issue Open | February 6, 2024 – February 21, 2024 |
| Security Name | Yarn Syndicate Ltd. |
| Issue Size (Shares) | 18,000,000 |
| Issue Size (Amount) | Rs 48.60 Crores |
| Issue Price | Rs 27 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs 27 per share, shall be payable by the eligible shareholders in the following manner: |
| A) Rs 13.50 at the time of application. | |
| B) Balance Rs 13.50 in 1st and Final call, as determined by the Board. | |
| Entitlement | 24 Rights Equity Shares for every 5 fully paid-up Equity Shares held on Record Date January 24, 2024. |
Time-table of Yarn Syndicate Limited Rights Issue
| Last Date to buy shares | 23-Jan-24 |
| Record Date | 24-Jan-24 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 6-Feb-24 |
| Renunciation of Rights Entitlements | 16-Feb-24 |
| Bid/Offer Closes On | 21-Feb-24 |
| Deemed Date of Allotment | Not announced yet |
| Credit Date | Not announced yet |
| Listing Date | Not announced yet |
The Objectives of Yarn Syndicate Limited Rights Issue
The objective of this right issue is to raise capital for the business purposes. The net proceeds from the issue will be utilized for the acquisitions of equity shares in Stitched Textiles Limited. Moreover, after covering the issue related expenses,the funds will meet the working capital requirements and other general corporate purposes.
How to Apply for Yarn Syndicate Limited Rights Issue?
Wait for the public issue to open for subscription, then click on this link to apply for the Yarn Syndicate Limited Rights Issue with Bigul https://www.bonanzaonline.com/
How to Check Allotment Status of Yarn Syndicate Limited Rights Issue?
The registrar for Yarn Syndicate Limited Rights Issue might be Cameo Corporate Services Limited. You can check the allotment here https://ipo.cameoindia.com/
FAQs
- What is the Yarn Syndicate Limited Rights Issue?
Yarn Syndicate Limited is coming up with its rights issue which will open on Tuesday, February 6, 2024 and close on Wednesday, February 21, 2024. The issue size is of 18,000,000 equity shares and price is set at Rs 27 per share and face value is at Rs 10 per share. The record date is January 24, 2024.
- When does the Rights Issue open and close?
The Rights Issue opens for subscription on February 6, 2024 and closes on February 21, 2024.
- How can I apply for the Yarn Syndicate Limited Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just visit this link to apply with Bigul: https://www.bonanzaonline.com/.
- How can I check the allotment status of the Yarn Syndicate Limited Issue?
The registrar for Yarn Syndicate Limited Rights Issue might be Cameo Corporate Services Limited. You can check the allotment by visiting their website https://ipo.cameoindia.com/
- What is the objective of the Yarn Syndicate Limited Rights Issue?
The net proceeds from the issue will be utilized for the acquisitions of equity shares in Stitched Textiles Limited. Moreover, after covering the issue related expenses,the funds will meet the working capital requirements and other general corporate purposes.
- What is the record date for the Yarn Syndicate Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for January 24, 2024.
- Where will the Yarn Syndicate Limited Right Issue be listed?
The Rights Issue will be listed on the BSE.
- What is the entitlement ratio for the Yarn Syndicate Limited Right Issue?
The entitlement ratio is set at 24 Rights Equity Shares for every 5 fully paid-up Equity Shares held on record date January 24, 2024.