SAR Televenture Rights Issue will open for subscription from 15 July 2024. the company aims for an issue size of ₹300 Crores through this rights Issue.
About the company
SAR Televenture Limited was founded in 2019 and provides telecom solutions for the evolving telecom industry and fiber optic cable laying for telecom network operators. The company is primarily engaged in the installation and commissioning of telecom towers in India. As of May 31, 2024, the company has installed a total of 413 towers in various areas of West Bengal, Bihar, Uttar Pradesh, Chandigarh, Odisha, Jharkhand, Himachal Pradesh, Punjab, Andaman and Nicobar Islands on lease basis.
The company is registered with the Department of Telecommunication (DOT) as a Category I Infrastructure Provider (IP-I), which allows it to lease out construction sites, i.e. GBT/RTT/mast sites and Out Door Small Cell (ODSC), as well as construct and maintain assets such as dark fiber optic cables, rights of way, ducts and towers for leasing, renting or selling to telecom service providers. In addition, the company provides support services such as project management for duct and fiber installation, construction of basic transmission and telecommunication facilities, leasing of dark fiber, construction of fiber networks, maintenance of duct and fiber, and turnkey fiber projects for various telecom network operators, broadband service providers and ISPs. As of May 31, 2024, the company had over 38 employees.
Objectives of the Issue
- Funding setting up of Fiber-to-the-Home (FTTH) network solutions for 3,00,000 Home Passes;
- Funding setting up of an additional 1000 number of 4G/5G telecom towers;
- Funding incremental working capital requirement of the company; and
- General Corporate purposes.
SAR Televenture Rights Issue Timetable
| Rights Issue Approval Date | 3 July 2024 |
| Rights Issue Record Date | 9 July 2024 |
| Credit of Rights Entitlement | 10 July 2024 |
| Rights Issue Opening Date | 15 July 2024 |
| Last Date for Market Renunciation | 16 July 2024 |
| Rights Issue Closing Date | 22 July 2024 |
| Finalization of Basis of Allotment | 25 July 2024 |
| Rights Allotment Date | 25 July 2024 |
| Credit Date | 29 July 2024 |
| Listing Date | 30 July 2024 |
SAR Televenture Rights Issue Details
| Issue Open | July 15, 2024 – July 22, 2024 |
| Security Name | SAR Televenture Limited |
| Issue Size (Shares) | 15,000,000 |
| Issue Size (Amount) | ₹300.00 Crores |
| Issue Price | ₹200 per share |
| Face Value | ₹2 per share |
| Listing At | NSE |
| Terms of Payment | The full amount of Rs. 200/- per equity shares is payable on application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
SAR Televenture Rights Issue Calculation
| SAR Televenture Rights Issue Price | ₹ 200 per share |
| Market Price on Rights Issue Approval | ₹ 265.55 per share |
| Dilution Factor (X) | 2.00 |
| Fair Value After Dilution at Prevailing Price | ₹ 232.78 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 4.73 | 32.46 | 124.12 |
| Expenses | 4.73 | 28.24 | 108.10 |
| Operating Margin (%) | 14.0 | 18.0 | 14.0 |
| Net Income | 0.04 | 3.94 | 15.66 |
| ROCE (%) | 11.0 | 41.0 | 12.0 |
Rights Issue Documents
SAR Televenture Rights Issue Lead Manager(s)
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Pantomath Nucleus House, Saki-Vihar Road,
Andheri (East)-400072, Mumbai, Maharashtra, India
Phone: 1800 889 8711
Email: sar.composite@pantomathgroup.com
Website: www.pantomathgroup.com
SAR Televenture Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: sarteleventure.rights@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
SAR TELEVENTURE LIMITED
B-16, First floor, Noida Sector-2,
Uttar Pradesh-201301, India
Phone: 8587050050
E-mail: info@sarteleventure.com
Website: www.sarteleventure.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
