VSF Projects Rights Issue will open for subscription from 05 June 2024. the company aims for an issue size of ₹49.33 Crores through this rights Issue.
About the company
Founded in 1992, VSF Projects specializes in integrated construction and infrastructure development. The company has completed numerous civil works for the Roads & Buildings and PWD Departments in Karnataka State. VSF Projects has undertaken various projects, including National Highways, State Highways, flyovers, and bridges. Additionally, the company excels in executing infrastructure projects on a turnkey basis. As of January 2024, the company has 12 employees across its departments. VSF Projects has two principal business segments:
- Construction, managed directly by the company
- Aqua Culture
Objectives of the Issue
- Funding capital expenditure expenses for constructing a Multi Product Free Trade Warehousing Zone (SEZ) with an inland Container Depot.
- Adjustment of Unsecured Loans against the Rights Entitlement of the Promoters;
- General Corporate Purpose;
- To meet Issue Expenses;
VSF Projects Rights Issue Timetable
| Last Date to buy shares | 23 May 2024 |
| Record Date | 24 May 2024 |
| Credit of Rights Entitlements | 28 May 2024 |
| Bid/Offer Opens On | 05 June 2024 |
| Renunciation of Rights Entitlements | 13 June 2024 |
| Bid/Offer Closes On | 20 June 2024 |
| Deemed Date of Allotment | 01 July 2024 |
| Credit Date | 02 July 2024 |
| Listing Date | 09 July 2024 |
VSF Projects Rights Issue Details
| Issue Open | June 5, 2024 – June 20, 2024 |
| Security Name | VSF Projects Limited |
| Issue Size (Shares) | 9,865,121 |
| Issue Size (Amount) | ₹49.33 Crores |
| Issue Price | ₹50 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Rs 25 on application. Rs 25 in one or more subsequent Call(s) as determined by the Board at its sole discretion, from time to time. |
| Entitlement | 3 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 173.82 | 164.76 | 163.23 |
| Expenses | 163.47 | 165.85 | 156.83 |
| Operating Margin (%) | 17.09 | 6.61 | 7.72 |
| Net Income | 15.34 | (8.05) | 1.44 |
| ROCE (%) | 1.0 | (0.0) | 0.0 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: + 91- 022-4961 4132
Email: newissue@purvashare.com
Website: www.purvashare.com
Company Contact Information
VSF PROJECTS LIMITED
Plot No.8-2-269/19/S/D Lavakusa residency Rd.No.2,
Banjara Hills Hyderabad – 500 034, Telangana
Phone: 040-40102929
Email: vsfprojectsltd91@gmail.com
Website: www.vsfproject.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
