Srivari Spices And Foods Rights Issue will open for subscription from 24 September 2024. the company aims for an issue size of ₹25 Crores through this rights Issue.
About the company
Incorporated in 2019, Srivari Spices and Foods is engaged in manufacturing spices and flour (chakki atta) and marketing & selling them in and around Telangana and Andhra Pradesh. It handpicks raw materials from various parts of the country and processes the products with utmost care without using artificial preservatives or chemicals, thereby creating a product portfolio of organic spices and flour, which carry the freshness and goodness of each ingredient.
The company’s business has two models – first is direct-to-customer (“D2C”) in nature, wherein it delivers the products directly to the doorstep of its customers using approximately 15,000 retail stores. Secondly, it also works in business-to-business (“B2B’’), wherein it delivers the products to the suppliers. Srivari Spices and Foods operates from two manufacturing units located in Telangana namely, Unit – I situated at 234/5, Jalpally Village, Balapur Mandal, Jalpally Municipality, Ranga Reddy District, Telangana, and Unit – II situated at Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana, respectively.
Objectives of the Issue
- Funding Capital Expenditure Towards Construction for Setting of a New Plant for Manufacturing and Storage of Edible Oil
- Repayment of Unsecured Loans,
- To augment the existing and incremental working capital requirement of the company; and
- General Corporate Purposes
Srivari Spices And Foods Rights Issue Timetable
| Rights Issue Approval Date | 29 August 2024 |
| Rights Issue Record Date | 4 September 2024 |
| Credit of Rights Entitlement | 23 September 2024 |
| Rights Issue Opening Date | 24 September 2024 |
| Last Date for Market Renunciation | 27 September 2024 |
| Rights Issue Closing Date | 3 October 2024 |
| Finalization of Basis of Allotment | 8 October 2024 |
| Rights Allotment Date | 11 October 2024 |
| Credit Date | 15 October 2024 |
| Listing Date | 17 October 2024 |
Srivari Spices And Foods Rights Issue Details
| Issue Open | September 24, 2024 – October 3, 2024 |
| Security Name | Srivari Spices And Foods Limited |
| Issue Size (Shares) | 1,428,400 |
| Issue Size (Amount) | ₹25.00 Crores |
| Issue Price | ₹175 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The full amount of the Issue Price, Rs 175 (including the Premium of Rs 165), will be payable on application. |
| Entitlement | 1 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Srivari Spices Rights Issue Calculation
| Srivari Spices Rights Issue Price | ₹ 175 per share |
| Market Price on Rights Issue Approval | ₹ 303.55 per share |
| Dilution Factor (X) | 1.20 |
| Fair Value After Dilution at Prevailing Price | ₹ 282.13 per share |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 1,139.90 | 1,764.21 | 3,582.01 | 7,828.33 |
| Expenses | 1,092.23 | 1,663.09 | 3,149.17 | 6,825.33 |
| Net income | 35.27 | 72.84 | 312.61 | 703.41 |
Srivari Spices And Foods Rights Issue Documents
Lead Manager(s)
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower,
Drive in Road, Thaltej
Ahmedabad-380 054, Gujarat, India
Phone:+91 877 756 4648
Email: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
Srivari Spices And Foods Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: rightsissue@bigshareonline.com
Website: www.bigshareonline.com
Company Contact Information
SRIVARI SPICES AND FOODS LIMITED
4-1-875, 876, 877 and 877/1, RDB Blue Hope,
Tilak Road, Abids, Hyderabad- 500 001, Telangana
Phone: +91 40 3576 8663
E-mail: info@srivarispices.com
Website: www.srivarispices.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
